Level 1 Loremaster lets you know the enemy's current HP. As you level up that skill, you begin to see more details like their AP, max HP, etc. And I like the fact it's only for one person. It leads the players to communicate more and lets them be individual a little more as well. I grabbed Pet Pal and Loremaster for instance, so I'll chat up some animals to help with quests and let my friend know how much HP certain monsters have so he knows what to focus, and at least for the Loremaster part, it means we have to talk about things more. Which I enjoy more than just hitting a button to let him see, or worse, him getting the ability because I grabbed it. It adds flavour and character, for me.