Please help a newbie...

[the Langolier]

3. No need for item recoveries
Saving the game often is your backup. No inventory slots needed for alternative setups. An item recovery is IMHO a very rewarding experience which can't be simulated in SP.

Step 1: Enter dungeons, travel to a highly populated area and drop all equiped items as fast as possible

Step 2: Move to safe area, cast bone spirit / blood star until life < 10. Cast any other spells until mana is exhausted

Step 3: Travel to spawn point, save game

Step 4: Return to dungeons and die where you dropped your items

Step 5: Reload game

Heal, and proceed with item recovery.

Not exactly what you had in mind... :)