I usually pick up things with the character that is designated for certain items. Like first the mage (F4) picks up potions, then the ranger (F3) picks up arrows. Anything that needs to be identified goes to the loremaster. When opening chests I rightclick any item and send it to the correct character. If you don't do this, then you are gonna do it again amidst all the crap your main char walks around with, and so it is more time consuming to do it after.
