The only reason to let him die is if you're curious about what happens.

That's unavoidable and while it is minor, it is enough reason to save Rakeesh. Even if you are heartless enough to let him die, when you go to the town square you'll have to deal with a long cut scene where the guard slowly walks up to you and drags you to the Hall of Kings. I wouldn't even know about this side quest if not for the internet. It's an out-of-the-way side quest and it does NOTHING for those two characters. There is no reason for the fighter or wizard to meet with Ugarte during the Rite of Conquest. They don't have to let him die, but they could just skip the meeting with him altogether. Hence, the fighter and wizard have no reason whatsoever to save Ugarte. In Ugarte's case this only affects whether or not you see him during the chief thief ending.

All that will be affected are whether or not you see them during the ending and the cut scenes and dialogue with some characters immediately after the events. The other character classes can just let them die and it will make little difference. All character classes can save Ugarte and Rakeesh but only the paladin gets points for doing so.

Quest for glory katrina