items sinking.... ever dropped a hammer over the side of a boat and tried to get it back without a magnet on a fishing line or something that vikings don't have handy? Its gone, if the water is deeper than about 15 feet, for most people. You can cannonball off the shore and get stuff that deep in game, so its not excessively unfair about it, and you can also terrain edit it back in reach.

troll raids... what do you want? If you think a moat or earth-wall is cheating, then the truth simple is that the game does not provide enough good defenses to protect fancy homes from such things. You can ring your area in 2-3 circles of hard to bash items like rock walls, but they are still going to break some of it regularly and you spend a ton of time keeping your defenses repaired. That gets old, but you can do it. If you are saying we need better defense tools in the build menu, I agree. Starting with rust proof tar coated iron spikes.

be careful what you wish for. realistic physics hurt the player too. Eg no more boat full of iron, too heavy and sinks. No more running up mountains or terrain walls. No more building gravity defying lateral nonsense like a 20 floor tile long walkway off the side of something. ...