Really wishing DAwiki's coverage were a bit more exhaustive, since this playthrough is the one where I start obsessive metagaming. I only have 130 gold so I'll be buying Cold-Blooded, then saving for the Robes of Unblemished Cleanliness- so it'll be a while before I'm optimized. All I have left is that quest and a couple minor side quests. Still in act II- the respeccing was largely due to frustration with the Gauntlet in the Abandoned Thaig. Already gave up the points from the fade, but will be taking advantage of the Fell Grimoire to utility's sake. I'm a largely virtuous anti-mage mage- usually pleasant and peaceful, except when dealing with mages or, in many cases, demons.

Well, my roleplaying has been kind of fucked.

As a blood mage, doing either shouldn't fuck with your roleplaying overmuch. Taking the demon's deal in the fade can earn you +6 stat points, and reading the Fell Grimoire in the Xebenkeck quest will give you another 2.