Yes, but it doesn't interfere with much on a daily basis.
All of us think that there's a limit to what can be carried reasonably, and the players like to travel light. Having said that, They found a chest in a dungeon and loaded it up. I went back to some earlier rules since they (and I) knew they couldn't just grab it and go. But they also have Tenser's Floating Disk and make use of that fairly frequently when they don't have access to horses or a mule, with or without a cart.
It was rather amusing when they were in the midst of a marsh trying to escape from undead, with the unconscious body of a companion and their chest of loot on the disk and the duration ran out. They didn't go back to recover the chest that sank into the swamp, but they did get their companion.
But my players like to have some semblance of reality. The ranger has been tracking ammunition by his choice, but I've always used character sheets with check-boxes to make that simple. In the other campaign, the ranger is a bowyer/fletcher and makes his own when needed.
Being in the Forgotten Realms, the players are also fond of changing large amounts of coin into trade bars. Of course, the cart, mounts, and attention to coinage and stuff is also partially because two of them are ex-merchants, and a third is a Waterdhavian noble. One of the rogues insists on having his own bed at the very least, but usually requires his own private room while at an inn.
So yes, but not to the point where we're worried about calculating for every last item they are carrying.
Ilbranteloth