Yeah. I don't mind carried gear (not worn) having a weight. But worn gear and money should not. It's always annoying to barely be able to carry 3 healing items in a game with encumbrance, unless I have a 14 STR or something.

Encumbrance means STR = Win: You can wear heavier equipment. You can carry more items back to town to sell, which means more gold to buy the more healing items/better magical gear you can carry that a Wizard or Rogue with low STR can't. Plus the hitting harder with physical attacks and hitting more often in melee (unless you take weapon finesse).