I would be adventuring out in the wild, hunting with my bow, fighting bandits with my sword, looting dungeons and hauling gear, yet I still looked as if I was running around in some clothes and armour with a sword in my hand. I never looked like an adventurer.
One simple addition would be having multiple weapons equipped, for example, I could have a bow and quiver on my back, as well as a sword at my side (Perhaps a shield on my back, like so... http://www.flickr.com/photos/47857688@N08/5435911539/ )
I know that they are changing the weapon selector from something like a drop down menu that pauses the game, but what if you can have two favorites equipped at all times. For example, lets say in the menus you select all your weapons and weapon sets (i.e. a bow, a shield and sword, two swords) so lets say to access these sets you hold down (and I'm using a 360 for an example, so deal) Y and the game pauses, and your list of weapons comes up, so you scroll through, pick you weapon and return to the game. Now, lets say you have your two favourite weapons set as favourites, (i.e. a sword and a bow) now to switch between these weapons you simply tap Y, therefor you have two weapons equipped that are on your player model at all times, so you actually look like you have more then one weapon.
I would like also like to carry a bag of some sorts, that at least looked like I was carrying gear, but I'd imagine that is a bit of a stretch.
Thoughts?