How are chances to hit caculated or do you just hit every time? I just leveled up and there's no mention of upgrading a stat helping me increase my chances of hitting something. Did they do away with this or maybe added more damage reductions instead? If so, this certainly changes the way the game is played and makes it so you don't waste items or miss spells at important moments.

Edit: I found another post saying it's based on your level and the level of your enemy. Is this correct and if so, why was it changed from being able to adjust the chance via stat changes?