Reynard said:"In character" means different things to different people and therefore doesn't make a good yardstick for judging whether something is a good design choice or not. It might be "in character" for the party to turtle up and rest after a particularly nasty encounter, but it is equally valid to suggest pressing forward toward the goal -- whatever that may be -- is more "in character". The real issue is not whether it is "in character" but whether it is a necessity based upon the mechanics. If you blow your whole wad in every encounter, it becomes a necessity. if you think about your resources and how best to use them in attempting to achieve some goal, it may or may not be.
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I'm sorry but no, "pressing on" is NOT roleplaying.
Unless the situation is time-sensitive AND the objective is important enough, in-character, one doesn't attempt endeavours at less than 50% when your LIFE is on the line A situation like "we have to reach the evil altar before midnight or the world is destroyed" makes sense since a 5% of success is _STILL_ better than no chance.
However, a situation like "we have to save the village from the orc slavers" will depend on the personality of the characters (I can see arguments for both sides when the party is at 50% effectiveness for taking this on) since even a paladin can argue that it's better to rest and be at 100% and then attempt a rescue versus trying one where you are more likely to fail (especially if there is no backup and the party is the only ones that know of the slavers).
But a random dungeon crawl? Unless the character has a deathwish, it makes NO sense for characters NOT to camp. Please show a REAL world example of people in life and death situations CHOOSING not to be at 100% effectivness.