The torch thing is cool with me. I don't have any characters that can't see in the dark so I wouldn't know.. but I think it is really good RP.
( plus you do fire damage to the mosters that run into town!)
The weapon thing is a understanding unless it is a VERY big object then it is ok.. sort of.
None of my characters run around in armor in town, however the outfits they wear LOOK like armor but isn't. This is true with people that Custom their outfits to look like really cool armor.. but its only hide.. or something really light, for those times when there is an attack IN town.
I make it a point to have something on me that can protect me... I have had monsters trained on me and I was not happy with what happend. I did not die.. no one helped me defeat the moster that SOMEONE eles brought into town. On top of that they thought I had brought them into town... it was that person that I saw running from them in the first place.
So RP wise no armor, no weapons leave them in your packs.
have them all on quick bar just for safty reasons.