Not very telling at all. Those bonuses are mine, from spells, and most of them have redundant back-ups in the form of feats and class abilities.
My attack bonus is X ... then I enter Barbarian Rage, it increases. I leave Rage, it decreases below where it started. I cast Bull's Strength, it increases. I cast Righteous Might, it increases. I'm Greater Dispelled, it decreases. I cast Divine Favor, it increases. I use the Smite Power it increases. I use Power Attack, it decreases.
My hit points are Y ... I enter Rage, they increase. I get hit, they decrease. I heal myself, they increase. I cast Bear's Endurance, they increase, I get dispelled, they decrease. I use the feat Divine Vigor, they increase.
Each of those changes, including the 1st level spell, are greater changes than the -1 attack or 10hp from the WoL.
My WoL has these penalties.
-1 To Attacks
-10hp
1 4th level Spell Slot.
It never amounts to a full level loss ... which, if I got hit with "A Negative Level" would be
-1 to attacks
-5hp
-1 6th Level Spell
PLUS
-1 Ability Checks
-1 All Saves
-1 All Skill Checks
My character is very self-sufficient. If that character found himself in his PJs in the forest he'd lose this ...
From AC 27 to AC 22.
From Average Attack Bonus +11 to +9
From Wisdom 18 to Wisdom 16.
From average damage 1d10+1d6+17 to 1d6+1d6+15
That's about it, really. Surprisingly very little magical gear. That club nicely spikes damage against Evil Undead, but slapping Spikes and Energy Weapon on a frickin' tree branch does almost the same average damage (3.5 average less).
I've got more money tied up in stuff that doesn't come into play on an average day than anywhere else. Bags of Holding, Scroll of Spell I Don't Often Cast, Headband Of Additional 1st Level Spell Slot.
Naked, in the rain, weilding a day old trout of unusual size ... I still have Rage, Divine Vigor, and Smite. +4 Str, +4 Con, +26hp, +4 atk/+12 dmg.
--fje