Inventory is always a pain.

I've tried using the Piggy Back. You get 4 extra slots than the Backpack, but you walk slower. Tiltingly slower. It is somewhat better with the walking stick, but still a bit slower than a backpack and no walking stick. Still, Chester only moves at one speed, so I'm constantly waiting for him to catch up with the walking stick alone, which negates the speed boost. So the combo is OK. The 4 extra inventory slots come in super handy sometimes.

I've noticed the order you put on your armor matters. The LAST item you put on (between armor and helmet) takes a lot more damage. So Football Helmets can be conserved by always putting them on first.