It isn't just that there is too much loot, its that there is nowhere to spend your money either so it feels completely worthless. I was nowhere near as compulsive as the OP when I played through, I ended up with ~10,000 gold just randomly picking up and selling things and at no point did I feel pressured into spending that, or like I wanted to save up to buy something. This was something that older games pulled off much better, Dragon Age Origins for example, where there was always some really expensive item sold by a vendor you were saving up for. It made currency feel like it had value.