Overview
Up until now, there hasn't been a stable capacity mod that actually represents real-life to some degree. Even my own Realistic Capacity mod is far to lenient on the laws of physics to be completely life-like. The issue is that you carry different items differently; weapons on your back, arrows in a quiver, septims in a coin purse, and everything else in satchels and backpacks. This mod takes all of that into consideration.

With this mod, your strength is no longer connected to your carrying capacity. Your strength will determine how much weight you can carry before becoming over-encumbered, but how many individual items you can carry before being over-capacity is only determined through the MCM.

You can only carry this many items before being over-capacity:

2 Large Weapons: Battleaxes, Warhammers, Greatswords, Staves, Bows
4 Medium Weapons: Swords, Maces, Waraxes, Crossbows
6 Small Weapons: Daggers
2 Shields
50 Arrows
25 Bolts

15 Potions or Poisons
250 Coins

5 Large Items: Cuirasses or Misc Items weighing more than 3 units
OR
15 Medium Items: Clothing Items, Gauntlets, Boots, Helmets, Food weighing more than 1 units, Scrolls, Books, or Misc Items weighing more than 1 units
OR
45 Small Items: Jewelry or Accessories, Food weighing less than 1 units, Ingredients weighing more than 1 units, or Misc Items weighing more than 0.5 units
OR
135 Tiny Items: Ingredients weighing less than 1 units, and any remaining Misc Items that aren't weightless

Note that Large, Medium, Small, and Tiny items share capacity space, so if you carry 5 Large items, and 1 Tiny item, you will be over capacity. Also, if you wear a supported backpack, your capacity of Coins; and Large, Medium, Small, and Tiny items is doubled. See the compatibility section.

If you go over these limits, you will still be able to run, but you will not be able to use your weapons or spells, since you will be carrying the excess stuff you have in your arms. So, you can still carry mountains of treasure out of dungeons, but you had better make sure everything in the dungeon is dead before you do, or have a bodyguard on hand.

Speaking of followers, they are also supported. If a follower that's with you goes over capacity, they will be unable to fight and will run for cover in combat. So, you won't be able to use them as pack-mules, unless you're not intending on using them as bodyguards.

As of Version 1.1, you can disable Coin, Potion, and Ammo tracking. This allows you to carry an unlimited amount of them, in case you think restricting these items is too extreme.

Compatibility
Followers are detected using the CurrentFollowerFaction. So, followers who use their own systems can still be exploited.

I mentioned supported backpacks. Currently, backpacks from Wet and Cold, and Campfire are recognized and will double your capacity of items and coins. You can add support for other backpacks yourself by adding them to the _HC_ListBackpacks FormList through a patch made with TES5edit.

Also, coins added by the Coin Replacer Redux are recognized as coins.

Installation
Install through your favored Mod Manager, or drop files into the Data folder if your that big of a masochist.

When uninstalling or updating, make sure to disable the mod through the MCM first and make a clean save.