To avoid clutter I just don't pick up what I'm not lacking. Dedicated armor and utility slots would be nice and maybe an extra utility belt that could be made for food/mead slots.

The carry weight does get irritating because that can limit you before your inventory is even half full, but still makes sense as long as you're willing to overlook being able to run at all while carrying what must amount to at least a few hundred pounds of random ♥♥♥♥♥♥♥♥.

A backpack in place of a Cape item that increases slot capacity would be nice too. Even if it only added one extra row of space that would typically be enough as long as it's within the weight limit.