ToME: the Tales of Maj'Eyal

Indeed, any effect which has negatives should not be a blue ego. In particular the positive effect from misery isn't much compared to the loss, and quite worthless for many classes.

Anyone here who doesn't vote for simply removing them?

Yeah, I wouldn't mind seeing them removed. Negative effects can be hard to notice properly amongst the various stats, and they feel very shoe-horned in. I'd rather the bonuses be balanced well than having arbitrary ups and downs to equipment items.