>What does stalker of the wilds do?

Stalker of the Wilds lets you follow someone around in the wilderness while remaining camouflaged.

(It also gives a small bonus to creeping in general.)

>What is precision? A form of the "Aim" skill? Does it flip "To
>hit" with "Damage"?

Precision = in lightweight armor, your attacks are harder to avoid.

There may be more to either of those skills, this is just what I know offhand.