I killed one just to see what would happen and I noticed that they carry a lot of gold! Is it okay to kill a few and just let the ones in the major cities live? Or are they important tot he game or have special items at certain times in the game (i noticed this)?
Later on they carry Arcane items which are some of the best in the game. I don't see much harm in killing one, though... But I've never done it. For all I know, the other gypsy ladies won't sell to you anymore if you kill one of them. Save your game and try it. If the other ones will still sell to you, then go for it.
Actually, they sell Arcane items from the start... well... the Tarantian one certainly does. They're rare, but they're there. The Tarantian one also sells Dark Helms, oddly enough.
If you just bought 2 arcane rings and an arcane staff of her, kill her for her cash. The other gypsies don't care.
I'm doing that with a character right now, I need to grow ten levels without going into the void so I have 11 colleges.
killing wise woman Bad idea. They get different things over time - at least for a while. Between ID-ing things for you & the arcane items, I'd let them live for the most part. Too many other idiots to kill anyway!