Soze, from what I can tell in your post, if your skills are at 720, you may not be able to raise stats, or at least not in a timely fashion. There is a good guide on Uoguide.com - simply search "stats" that explains it well.
The stats will go up I believe it said a 1 in 20 chance as a skill raises. It will also depend on which stat you are trying to raise. Make sure to have one lowered to accomidate the one you want to raise, if necessary. Also there are certain skills that will raise dex, another skill will raise Int. For example I believe Parry skill increases will raise Dex, and gaining in magery will raise Int.
But the Uoguide.com, "stats" shows a chart. I may have seen it written here in Stratics as well... but don't recall at the moment.
Is it correct that your skill are now at 720? I relooked at your post, and it certainly appears that you have enough room for stats to go up. Which stat is it that you are trying to raise? Armslore according to the chart would raise Intel first, and then if it were capped, the secondary stat it would raise is Strenght. So according to the chart if you are trying to raise dex, arms lore isn't going to do it.
GL
