hedwards: By and large I liked that aspect, but it got annoying after a while when I was in the habit of hording things and I ran out of things to buy.
I'm not sure why people are complaining about the damage to gear, it can be done in an interesting way, it can also be done in a poor way as well.
SimonG: What I liked is that I wasn't hoarding anymore. I wasn't picking up fifteen rifles and twenty armours like in other games. It felt more natural, checking the loot for valuable. Also, not having de-facto unlimited ammunition really made "dungeon delving" more interesting, as I had to take ammo into account. I really needed to "prepare" before going on longer quests/journeys. Awesome immersion.
Well, I was still hoarding, I just wasn't grabbing every single thing I could get my hands on. The main issue I had was the inventory system made it a pain to figure out what I was all holding at any given time.
I remember with FO3 where I was grabbing up all the ammunition I could get and buying it from the vendors because it was the only viable way of getting rid of the loot that I could later trade for caps. With the Pitt I was eventually able to convert ammo. FO:NV had the sense to let people do that by default which made that a bit less important.
Thinking of this, I can hardly wait for FO4 and Wasteland 2 to come out.