There was a bug, should be fixed now. If you still have some stuff in crates, it's probably arrows or something. I'll code a page tomorrow that shows you what you are wearing and what you are carrying.
Hmm...still showing the same. Or will the bug fix take a min?
It's an interesting update and I like the principal.
(Was writing this before it updated with your post)
Even taking into account I screwed up somewhere, I don't see how I could be carry 3/4 of my equipment in crates, when in actual fact there's only about 10 weapons that shouldn't be carried and all the armour should be carried. Then I have the 11 horses, so that should count for more horses than crates. Thus my reduction should only be about 85%...not under 50%.