I tend to eventually settle on my preferred party and then stick with them, though I very much like having the option to switch out party members now and then to keep things interesting. I absolutely want all my companions to get XP so that none are trailing in levels.

Having a UI in which we can access the inventories of ALL our companions and not just the ones in our party is something I ask for in every party-based game I play.

Agree with most of what you say, @Wormerine.