Just wondering, anything bad happen?
Im sure theres a probability of freeze ups, but anything else?
I noticed like the lich runs slow and vampires run fast, but is speed the only thing?
Id like to run around as perhaps a drow or something, but I dont want any inherent magic resistance, etc

Nah, changing avatar only fiddles with appearance. Though you might find problems depending on what you equip... Save a lot and you should be fine.

Nope. :D It's all good ;)

You might also run into problems if you hack the avatar of a creature that does not normally cast spells (such as a Cow) onto a spellcasting character. When you start casting, the game will look for the animation frames of "Cow casting spell," not find any, and freeze up.

A similar problem occurs in avatars that have no "death" animation, although these are much rarer: Elminster is the only avatar I've heard of that will crash the game upon death.

Well, he likes to go out with a bang. What more can be said?
Anyone have recommendations for interesting casters? Elminster looks ok, or demilich and pretend to be Morte from Torment.

The HULA wizard is pretty cool looking,but i never actually saw it in shadowkeeper,only when using CRTL+6/7 ingame,i think the standard Elf Wizard looks cool.

You can make your PC a look like a drow with out using SK. Just make your hair color white and your skin color dark through the appearance tab.

Ah, but the 'real' drow (at least the males) have strange ways of moving that changing skin/hair color won't mimic. Like the Shadow Thieves. Their clothing is different, too.

I like changing avatars with SK, it's fun. "Cow" warning above applies. I've just made simple changes to other standard avatars. For example, my human mage is based on a real-life person. He doesn't have a beard like the human-mage avatar, and I don't really like him wearing robes. So I changed him to the human thief avatar. Looks great, with a mysterious hood, and no beard.

Also changed my Half-Elven Ranger to the Human Cleric avatar. Makes him look like a really buff strong half-elf.

I made a human child-character ("Son Of..."), by putting a gnome avatar.

And finally, I have Mr. T (from the A-Team) as a human fighter/thief. I changed his avatar to Half-Orc cuz it makes him look super-strong, which of course, he is.

Another term for "avatar" is "paper-doll."

Someone commented about the HULA wizard, what is this? During my first play through my game (before I had cheats and such) I was walking around when all of a sudden I saw that line of text appear at the bottom of one of the screens, and my main character had become an all-black wearing wizardy-person. I was totally confused, though it went away after a while. Can someone tell me what it is exactly?
-Brainless One