I don't think making it harder to carry around consumables is the way to go here. Making potions and scrolls lighter seems the best and easiest fix IMO.
Inventory Weight
I've been all for the lowering of weight of gyvels for a long time.
Faeries would be completely tooled.
No they wouldn't. It comes down to a choice.
Do you want to carry a BUNCH of consumables? You prolly can't and shouldn't also be able to carry 2-4 pieces of armor/weapon in your inventory too if you are a low str race.
Want to carry a piece of saves gear and a vuln weapon? You aren't going to be able to carry AS MANY consumables, but you still can have several.
It's a very real and balancing drawback of a low str race that currently has a broken mechanic allowing a workaround.
edit: And when I say carry, I mean NOT inside a sturdy backpack which makes items weigh less anyway.
Faeries would be completely tooled.
Psh. Mine always did just fine without me micromanaging my inventory enough to take advantage of this.
Pills should be basically weightless, potions should be 2 lbs. or less.
Red potions ARE 2 lb.
Also there is a perk that allows you to carry more weight, just as there is one that allows you to carry more things.
My major problem is with 15 dex giants that can carry so few items in their inventory that it's useless to even try curing a blind.
why would you carry more than 6 gyvels in your open inv anyways...
I've quaffed 6 gyvels and had 6 fails.
I've quaffed 6 gyvels and had 6 fails.
wow really?
on somoene like vlad, yeah, but from a player?
Sear blind will do that for sure.
edit: Oppressant's blind too I bet.
And I have failed Cure Blindness and cure Plague in numerous occasions.
7 times on the Plague.
~6 on the BLindness.
It's a roll of the dice. Sometimes you go with it, sometmes you are doomed.
If you get blind by sear, you better head directly to Lerant 
so u can fail 12 red potions?
Shh man boobs, you always ruin my plans about world domination...
Depends on the reds.
Try to eat some more kiwi and pears. Fruit is good in large quantities.