Just a warning on using these console debug commands - if you use them on your singleplayer character they flag your character as not being of legal status from an MP perspective.
This has no influence on the game in singleplayer, but it may have an influence in multiplayer, because one of the server options for people hosting MP games is "Enforce Legal Characters". This means that if your character has been modified you will not be able to use him in MP games where people have this option ticked. If the server host leaves the Enforce Legal Characters option off then you will be able to use that character.
I think it's a good idea to be able to identify modified characters in multi – what people do in singleplayer is their own business and they should be able to do what they like. But in multiplayer DMs and hosts should have the option to exclude the dreaded PK’ers who made Diablo and BG2 multiplayer such a frustrating experience.
Just so you know the consequences of doing this. Once that legal flag goes up there’s no getting it back down, unless you’re really good with a hex editor and know where to look. Better you guys know sooner rather than later, so you can make an informed decision about whether or not to use it.