It would be nice if the inventory had a tabbed interface (including on controller). Equipable items, Usable/Consumable items, Alchemy components, Wares... Be nice if there was a "bookshelf" section in the Journal in which books we find are collected as well.
For me, and I suspect others still learning the game, the biggest issue is separating the alchemy components from the wares. I don't want to risk selling components I might end up needing, yet I [feel like I] need all the GP I can get early game so I generally pick-up everything that isn't nailed down.
Unfortunately, the icons are so incredibly tiny that it's difficult to visually differentiate a lot of these items from one another without checking the tool-tip. For the amount of time I'm spending sorting inventory or trying to setup radial menus (character movement and the immersive interface is too nice for me to prefer M&K 100% of the time), I feel like I could be twice as far into the story (and onto a second playthru) as I am now.