^ This. When I first started playing DDO, it was common for myself to carry around various items with the different resistances on it and when the situation arose that I knew a certain element was heavily used offensively, I'd swap to the one that was appropriate.
This was mitigated in large part by the onset of the guild elemental resistances in the cargo hold and I don't really do it anymore. But if the situation arose where it would lean itself towards making the completion of quests more likely, you better bet I'd start carrying around swap-able resistance/absorption items again.