Having encumbrance, but allowing a high STR character to carry 45,000lbs of gear seems ridiculous. Is this guy really questing with 6 greataxes strapped to his back, a gigantic sack of funerary tokens, and 6 necklaces and helmets stuffed into a backpack? My dwarven fighter can really pull several tractor trailers worth of weight behind him without slowing down? It seems silly.
Clearly, the items and gear a well-equipped character usually has have exceeded the logistical and practical limitations that a normal person could possibly bring with them, even if they could lift a small planet. Where would all the dozens of helms, greatswords and dragon scales be kept on a person? We should just assume that these items are stored in extraplanar Bags of Holding or whatever magical storage you can devise, and encumbrance should be a non-issue.