I mean just how many items are in these games you think? A lot is the answer!
So with such a plethora of items to suit all different kinds of players (warriors,mages,rogues etc) it makes managing your inventory an important area for a game as big as this.
So my proposal is not just the basic hotkey system thats existed before but "Hot Key Sets". Confused? Some examples below:
1) If I hold down SHIFT (or another key) and 1 (3rd person button and D-Pad on Console) this is my Town Set. Like Clothes that boost my personality/barter etc.
2) If I hold down SHIFT (or another key) and 2 (3rd person button and D-Pad on Console) this is my Battle Set. Like Armour and weapons OR spells if you are a mage.
3) If I hold down SHIFT (or another key) and 3 (3rd person button and D-Pad on Console) this is my Exploration Set. Like Enchanted clothes with water breathing, eye of night, chameleon,enhanced athletics etc.
Also, your usual hotkeys (1 to 0) are also mapped to your hotkey sets too. So your hotkey items correspond with your chosen hotkey costume set. This allows for secondary or tertiary quick weapons on a battle set and different stat enhancing apparel on your town set (Like enchanting boosting items which you only wear for enchanting).
I think it will really work and the good thing about having to use the 3rd person button with your hotkey? You can see what set you are changing into. So no more going into battle dressed in normal clothes without weapons or spells!
I also think it would work brilliantly with mage characters since they have a HUGE arsenal of spells so quick set 1 would be debilitaing set of hotkey spells and quickset 2 would be destroyer/nuker set of spells.
I hope a developer is reading this post and if you are: please take my idea into consideration.