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I usually just stick to picking up enchanted equipment and jewellery, heavy armor I usually just leave unless it's got a sweet effect I can break down
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Yep. I tend to get a lot of money by looting dead Mage Bandits as they drop those enchanted robes and staffs (staves?). Oh one thing you need to be aware of, make sure you periodically use your alchemy ingredients, otherwise you'll end up with a dozen giants toes or a ton of flowers that will weigh you down. Sell excess ingots, use the ingots to make cheap weapons to raise your smith skill, enchant them and then sell them.
Also have a serious think about whether you need all those weapons in your inventory. A sword and bow is good, but do you really need any other things like a shield, two-handed sword/axe/hammer etc. It helps you learn to priotitise things better.