I think it would be great if you could hold an item while you have two weapons sheathed. I mean, you can do it with one weapon and one shield sheathed.
As it is now, when you are dual wielding and sheath, you get the message "your sheathed weapons get in your way" when you try to hold an item.
Yeah I kinda agree with that... no idea how those sheated weapons get in the way of me holding something...
I don't see any balance reasons why not to as well.
Perhaps someone does?
Certain classes can allready do this, don't know about blalance issues
How could this be a balance issue? 
The reason I'm saying this is that it's damn annoying when you are dual wielding two cursed weapons, and you want to hold a wand/stave/staff to use.
Hmmm...wonder if that's an intentional game mechanic to force you to make choices?
It's actually yet another game mechanic that favours mages over meles if you ask me...
So I guess zerks are ok, lets start whining that mages are OP.
I purposly never wear a cursed off hand weapon
I purposly never where a cursed off hand weapon
Neither do I. You can't see objects on where.
God you know i do tha all the time, in game too