I have found, while traversing Tamriel, that the weight my character's carry play a HUGE role in what I decide to do. While I really enjoy the realism and immersion of it, it really is a "burden" in the long run.
I skip places of interest on my way somewhere, simply because I KNOW I will get loaded down with loot.
I fast travel much more than I want to, because traveling on foot will inevitably load me down with loot from all the attacks that happen.
I have taken companions, not for their battle prowess, but rather as a mule.
For those that walk everywhere without running, this may not make much of difference. For me, who runs when I can, it really slows down the game. Horses (especially the "Convenient Horses" mod) can help, but carriages are right out of the question.
When I finally get to a village/town/city, I sell by weight instead of price. The blacksmith is ALWAYS my first stop, as armor and weapons are the heaviest loot.
Again, while I really enjoy the immersion of carried weight, I wish there was way to lessen it's decision making importance. What are your thoughts?