You love SL... You've spent lots of L$ on all kinds of things... You love building and use all kinds of things in your collection for reference at times... You shouldn't have to delete things/friends from your inventory/list to avoid not being able to log in or TP (as that seems counter-productive)... And who necessarily has the time to box everything up just to possibly lose track of it anyway?
The SL economy depends on Creators always coming up with new things and Residents enjoying them. Let's not deter or discourage that. Let's just cut down on our equipment/server wear and tear of needing to drag it everywhere we go in our inventories.
Why not have the ability to send some seldom used items to a "bank" server instead of dragging them around and/or squashing any time you have to actually enjoy SL?
It could work like checking out a book from a library. It could even be a subscription or a Premium feature.