I have a high strength so should be able to carry quite a lot. I have noticed when I am overburdened I am way below my max weight. Does everyone else have this problem? Also why are some of the good items so heavy?
You might be suffering from the weight bug... Try unequipping one of your items, then re-equipping it. That usually sorts the problem out <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />
I think the good items are really heavy as a kind of game balance. You can get a lot of really good bonuses - IF you care to carry the cost of a much reduced carry capacity.