Since our 5th inventory space is created using a portable hole, and portable holes don't gain weight when items are placed in them.......
I think any items we place in our 5th inventory slot should not count towards our encumbrance. Maybe my caster is a wuss and should exercise more, but I'm a little bothered when I grab my ingredients bag out of the bank and I'm overburdened. A couple times I've run into the issue while questing that I happen to loot a couple full plates and get burdened, and have to trash some.
I could think that anything in your portable hole can't be placed on a hot bar. I could keep my collectable bags, tapestry pouch, etc... in the bag, and have a place to throw full plates if i happen to loot them until i get to a vendor.
Good idea? Bad idea? Thoughts?