So what is Lore good for?

Lore is one of those traits that can be applied to almost anything dealing with demons. You can use it to:

• Find out/remember weaknesses of demons(bonus to combat rolls)
• Find out demon's Needs/Desires
• Find out the best way to interact with a demon (for Binding, Banishing, intimidating, etc., and bonuses to that) "Back in 1214, you were trapped in a horseshoe, freed only when it was shod upon a horse...we don't use horses anymore, but I still know how to trap you in there..."
• Find out what kind of sorcery someone else is doing(and how to assist/screw it up)
• Help out other folks in their sorcery
• Depending on the game, pull up facts ranging from the secrets of history and the evolution of the universe to mundane, but scary knowledge("Hello Tina, you're 23, you have a scar on your ankle, and you never liked chocolate")

Lore also deals with how well the character "gets" what's going on with Sorcery. A low Lore score is probably going to single you out to other sorcerers as "fresh meat" or easy pickings. If you have high Will but low Lore, even better for them -- it means they can possibly trick you into being a useful tool. [1]

Mike Holmes: Lore is sorcerer coolness. He with the highest Lore can brag most.