The example in page 172 is fairly easy to follow, but I am a klutz with those things and therefore I don't know whether there further Errata to be made or I'm just misunderstanding.

Yes, I am aware of the existing Errata that clarifies that the second wound is supposed to be Heavy, not Medium. More on that in a moment.

So, Polandrus' stats are taken straight from page 197, specifically "Bite" and "Soak". Ok.

Ignatio seems to have no complete stats in the book. But since he is said to be using a short sword and a round shield, I am having this understanding:

Init +1 => After +1 from the sword, and without the result of the stress die (since the third paragraph clarifies it so). Therefore, the Quickness and Encumbrance modifies must be cancelling each other completely. Their actual values will of course depend on his Encumbrance, which in turn will be calculated from his Load and Strength, but the Load is at the very least 3 (1 from the sword, 2 from the shield). Therefore, the Burden (p. 178) is at least 2, perhaps more. If he is using a full chain mail armor and up to 2 additional load in other items, the Burden will be 4. Whichever the Burden, it is no greater than the sum of his Quickness and Strength bonuses (because otherwise the Init value would be lower).

Atk +12 => After +3 from the sword. So his Dexterity Bonus and his Single Weapon Ability bonus add up to +9. Or +8 if he is specialized in Short Swords. That is a fairly high sum, so odds are good that he has some related Virtue - perhaps Great (Characteristic: Dex) and/or Warrior?^

Def +11 => After +1 from the sword and another +2 from the shield. The combat ability is assumed to be Single Weapon again. With no particular reason to assume other modifiers, that is an indication that his Quickness modifier is probably one less than his Dexterity modifier.

Dam +7 => After +5 from the sword, and before including the Attack Advantage (which will vary among combat rounds). So his Strength seems to be at +2, which may be significant for the Initiative calculations due to its effect on Burden and Encumbrance, which by its turn influences Initiative.

Soak +11 => Even full Chain Mail gives a +9 bonus, so his Stamina must be at least +2, and he is definitely using heavy armor (if not chain mail, then at least metal scale).

So my best guess for the moment is that he has Stamina +2, full chain mail armor, Strength +2, Quickness +2, Dexterity +3, as well as the Warrior Virtue. Am I missing something significant?

But my real doubt is tangential to that. The next-to-last paragraph of the "Combat: Simple Example" inset of page 172 describes a situation when Pelandrus carries a single Light Wound and no other damage. But if Ignatio has Damage +7 and an Attack Advantage of 8, then the sum of 15 minus the +6 Soak of Polandrus results in 9, not the 10 stated.

Is this due to an as-yet-undetected mistake, or is the mistake in my understanding?