I don't mind encumbrance because it's one other aspect of your character to manage. It also requires you to work with other players. Whether that’s asking for a speed or strength buff, or asking a nooby to exchange gold or item drops for plat so you can hold a camp.
If you simply remove encumbrance from the game, that's a slippery slope of just removing a bunch of other stuff for the sake of attempting to make the game more accessible, but ending up watering it down like every other MMO.
Believe it or not, managing inventory is supposed to be a huge part of role playing.
I really hope that Joppa reconsiders how he is implementing encumbrance with this game. Auto changing coin denomination and no weight coins is a big bummer.
Destroy it - I'm replaying p99 Green now and probably 95% of things that drop just get destroyed... real waste if you ask me. Especially if it takes any amount of difficulty to get a group spot - I find myself foregoing sleep just to stay in a group that I know will be gone the next day, so destroying a brick that may sell for 10p is quickly outweighed by being able to actually play and advance (because when you are higher level, 10p is trivial).