Hi and welcome to the forums
The Z key is what you use to see all items on ground, there is also a few other keys to filter items its in the options of the game.
Inventory - I had thought the same as you and many others, but after noticing that gold is not needed much with only few options worth spending it, i think after lvl10+ you will end up looting just for the best gear and not for everything you see on the ground.
Only few items you will need to buy is starter gear and potions and if you ever decide to buy tunic dye to change your color, very inexpencive stuff.
However even with that said there is expencive stuff at the vendors so having a little cash on hand just incase is not all a bad idear, some forum members reported a few good items from the vendor but i didn't get any, npc's don't like me.
How the inventory is managed is another issue and i also would like to see a way to better organise it and think there working on that now.
The wasd i would also like much better as im very accustom to it in mmogs, its just less finger bashing my mouse has to do, so i agree.
So i guess that fixes some of the probs you was having as you wont be standing on items no more, and sorry i can't help with equiptment swapping.
Big hugs,
Lestai