You are absolutely correct, sir.My thinking is that if a player's enjoyment is derived from micro-managing an equipment list, they're really not looking for a light-weight (that is, minimalist) character sheet, anyway. If so, well, there's always the back, I guess.
I'm blown away by the coolness of this sheet design... Now I want to try to combine some of the ideas here with my own hand drawn sheet style.
I love the central circle. LOVE IT.