Boring, but Practical: Drink to Last! allows to convert most of the empty bottle-type items (minus the milk bottles) into bottles of dirty water when interacting with functional toilets (the ones you can drink in).
Toast to Victory: The companions receive a buff similar to the one given by alcohol during fights.
Too Drunk to Die: Increases you Damage Threshold when youre drunk.
As a Ranger/former Ranger (the description text isn't very explicit), you start with +1 in Agility and a pretty powerful revolver but suffer from more damage from the various Raider factions.
Blessed with Suck: The Ranger With a Big Iron trait.
Blasting It Out of Their Hands: First Thing First allows you to open a fight with this.