 | Stamina indicates how many pitches a player can make in a ballgame. |
 | Control indicates how successful a pitcher is at locating his pitches. |
 | Effectiveness Versus -Handed Batters determines how the pitcher fares against -handed hitters. |
 | Effectiveness Versus Right-Handed Batters determines how the pitcher fares against right-handed hitters. |
 | Velocity determines how fast the player can throw a pitch. |
 | The Groundball/Flyball rating determines a pitcher's ability to induce a groundball versus a flyball. A rating of 0 would be a pure flyball pitcher. |
 | The Pitch 1 rating determines the skill with which a player can throw his #1 pitch. |
 | The Pitch 2 rating determines the skill with which a player can throw his #2 pitch. |
 | The Pitch 3 rating determines the skill with which a player can throw his #3 pitch. |
 | The Pitch 4 rating determines the skill with which a player can throw his #4 pitch. |
 | The Pitch 5 rating determines the skill with which a player can throw his #5 pitch. |
 | Patience plays a role in a player's ability to deal with adversity following demotions, injuries and lack of promotions. |
 | Speed signals how fast the player is. |
There are the stock "HELP" definitions, now I'll try to answer your questions based on my own experience/observation.
1) Control- Does this just affect strikes and balls? Or does it also affect the placement of strikes?
1) I believe it affects both, and I believe this has been confirmed in one of the developers' chats.
2) Speed- Is a high speed rating more likely to strike out a low contact or low batting eye batter?
2) A high velocity rating for a pitcher is more likely than a low velocity rating to strike out either type of batter. My gut tells me the low contact batter will strike out more often than the low eye batter (all else being equal), but I haven't tracked that with any care at all, because I don't care much about pitcher or batter strikeouts. Someone else is probably a better source for this one (or, even better, check out some players in your current World) and it probably depends quite a bit on whether your World places an emphasis on the velocity rating. The "speed" rating does not impact pitching.
3) Patience- Does this affect pitching at all? Fewer big hits, perhaps?
3) No, Patience has no impact whatsoever in actual gameplay according to the developers (this is not to be confused saying it plays no role in anything; it can/does in play a role in player development).
4) (a) 1st, 2nd, 3rd pitch, etc- I've figured out nobody makes it in the ML without at least a 1st pitch of 70. What numbers are good, average, and bad? 80, 60, and 45? (b) Do pitchers avoid throwing their bad pitches?
4a) There is no right answer to these questions. Some people use a formula to determine whether the pitchers are ML quality. I've heard 3 pitches > 210 and 4 pitches > 250 thrown out as guiedlines before. My own rule of thumb is to prefer a 1st pitch of 80+ or first two pitches of 70+. 50 has been called "average" by customer support, so anything under 50 is below average. The developers haven't been consistent in whether having a single pitch below 50 (sort of a "show me" pitch) is a negative or a positive, or how far below 50 it has to be to become one or the other.
4B) Some people will swear by catcher's PC as impacting the frequency at which pitchers throw weaker pitches. Developers have seemingly refuted this as clearly as they ever refute anything, but the HBD community has not universally accepted the explanations given. Under certain circumstances, a very good pitch coach can convince a pitcher to drop a poor pitch.
5) (I thought my reliever last year who had 96 control, 65/75 splits, and two pitches 88/73 was good...yet he had an ERA of 5.71). Small sample size, perhaps? Misuse with respect to TPC/MPC? Pitching while fatigued? Especially with RP, one or two bad outing can skew a season's numbers completely. For what it's worth, those ratings look pretty solid to me and he would seem to be a RP I'd have a spot for in any of my current bullpens.
6) Also, how important is it to have extra pitches? I had a 3pitch starter for half a season, and he did ok. Was that a fluke?
6) Opinions vary. Some people swear by 3-pitch pitchers (if all above 50); others won't touch SP with fewer than 4 pitches. Personally, I haven't had much success with 3-pitch pitchers, even with all 3 pitches being "above average" so my preference is for at least 4 pitches. No right answer with this one though.
7) GB/FB- Does this number have linear outcomes? Or is it a step function? I.e., might 25-75 ratings give similar results whilst outliers produce radically different results?
7) The developers have (intentionally) refrained from explaining the precise working of the ratings and engine, so any response I gave to this would be guesswork at best.
8) And...anything else you think I should know!!
8) There are a million and one other things. Best way to learn is by doing, but if you have other specific questions, fire away. In the meantime, searching/reading the forums, the developers' chats, and the HELP pages can all be helpful. Keep in mind though, that each of those things (even the developers' chats and HELP pages in my mind) should be taken with a grain of salt.