What do you think the most logical gear limiter is? Inventory space? Burdened/Unburdened? Something else?
I think many games add inventory restrictions for no good reason, simply because this is a tradition.
For example, Dungeons of Dredmor.
If you have a single inventory slot left, you can carry 999 eggs or 999 lutefisks or 999 pieces of cheese of the same kind, but not two things of different type. That's what I call illogical. Anything which avoids things like that is logical (I think there is no "most logical", simply avoid this and you are OK).
Not only this is illogical, but it reduces the depth of the game. There are some things which you would not carry, because it is better to carry something else instead. This turns otherwise possibly useful items into junk, and causes the "too much junk" problem.
Also the game almost does not try to do anything to prevent the player to go back and pick up his old gear. Why not just let the player pick up everything? There would be no loss of strategic depth (since they can return anyway) and no incentive to do boring things like stashing and retrieving items from stashes.
Even though DoomRL has a quite similar system, it is much better. You are simply not allowed to return to the previous level, which avoids the stash problems. Medikits take the whole inventory slot and cannot be stacked IIRC, and the amount of ammo you can carry in one slot depends on the ammo type, which gives it more realism (you still can carry 10 rockets but not 10 ammo of different types, but there is no reason why you would want to do that anyway). These make the inventory system seem to actually make sense, even though still not optimal IMO (if I have a chaingun as my main weapon, it is usually better to carry two additional chaingun ammo packs instead of a shotgun + ammo for it, I think this restricts my choices more than would be reasonable).
I also like the system in my own Hydra Slayer. Consumables have unlimited carrying capacity, so every single one of them counts, even the weaker ones. However, there is a severely limited carrying capacity for weapons, and you really need to think about the composition of your weapon set to be successful. You can also choose to play as a "troll", which reverses this: almost unlimited carrying capacity for weapons, but none for consumables.