Walking at an angle (w+d for instance) is faster than in forward/sideways.
A partly-crafted item has zero weight. Good way to have a spare bow.
A dropped stick always points in the same direction. If you know which way "stick north" is, you can navigate in a blizzard somewhat. Even if you don't, you can rightclick on it to "hold" it and keep yourself from going in circles.
If you're encumbered or injured in any way, wolves are MUCH more likely to attack.