Morrowind did this, but to be quite honest, I don't mind containers that can store an infinite amount of objects. It might not be realistic but it's much more tolerable.
It did- though as I recall, the limit on how much a container would hold was still quite high, as in "not likely to be too inconvenient." I seem to recall farming Dark Brotherhood armor under Mournhold and having 40-50 helms in one of the smallish crates. They'd eventually get full, but not before I began to think they couldn't.
On the one hand, I wouldn't mind seeing storage and size limits- no, that 4 foot claymore will not fit into that 2 foot by 2 foot box- but then again, wouldn't that really point up the character's http://tvtropes.org/pmwiki/pmwiki.php/Main/HyperspaceArsenal all the more? "Sorry, this chest is too small to hold even half of what
you're carrying in your back pocket." Ouch?