Same as post, if one of my guys dies do i have to gone on for the rest of the time with 5 people?

you can delete that character and create a new one if you wish. but you can also go to a temple and have a priest cast 'Raise Dead' or have them 'Reserected', for a price of course. one of those two spells does not work on Elves though, and off hand i am not sure which one, i believe it is raise dead. check the manual.

ok thanks, If i do start a new character will they be lvl 1?

yes, so you are better off bringing them back from the dead.

I know in AD&D if you have a PC raised their CON drops by a point. Does IWD do the same thing? And BTW raise dead is the one that doesn't work on Elves. You must Reserect them.

No con points arelost to my knowledge.
Besides in AD&D you can only cast permanency as many times as you con too, am I the only one who thinks there's something wrong there if all those derranged mages created so many magic items each?