The Rod of Ruin allows a player to take 2 craft, 2 strength, or 1 of each.

First Question:

The rule that a player cannot go below his base values still applies here, correct? I heard somewhere the wording on a card overrides the rules, so I was curious as to this effect.

Second Question:

Can you evade the effects of the Rod of Ruin by casting Cloak of Shadows, or Invisibility? The way I understand it, the rod of ruin is an action taken by the player. Because it is an action taken by the player, would it technically be encountering the player? That would allow the casting of those spells, so clarification would be nice.

Third Question:

Do you have to land on the same space as another character to use it on them, or can it be used at any time?

I believe it can be used any time.

It isn't a part of combat so evasion effects (invisibility etc) don't help.

It can't reduce your score below your value (the number on the card, plus one if you have the Quest Reward that increases VALUE of the stat).

It can't be counterspelled, etc.