Yeah, that seems about right, because I can drop them and use them just fine, but at various points they just disappear, and reappear where they were originally found. So far they've disappeared when going for the dagger, and again at some point between starting Stormfist and escaping the following dungeon. Something maybe of interest, on my previous game, I picked up the lockpicks and the knife at the same time, no problem.

I know you guys know this, but there are other quest items you can buy back. might be spoilers: I bought back Penumbra's dagger (though it sucks, it's cool to look at). I bought back the Cyclops eye. I bought back my original Dragon Breastplate (it was expensive, but I liked it's stats much better than the repaired one, plus hey, two dragon breastplates! I think you can buy your true love's amulet back too, though there's no reason to. ...