Yes!
From my experience, yes! I recently tried skill training on a slime and after an hour it went from occasionally doing 5 damage to 15 damage. I had to start using mana potions to keep up with the healing.
Yes, observed on slime training in 2009:
1 training hour 25- hitspoints per turn 2 training hours: 35~40- hitpoints per turn
3 training hours: 40+ hitpoints per turn
4 training hours: 60~80 hitpoints per turn
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