I'm not so concerned about falling off lots of cliffs (although we had one horrible encounter where we were slowed by Solid Fog and as soon as walking out of that come upon an anti-gravity field (10d6 damage going up, 10d6 damage coming down). Yes, we're playing Pathfinder.

And flight won't always help you with falling if you're not expecting a trap and haven't gotten your flight on yet.

And what's this nonsense about moving magic item slots of not having them take up ANY slots at all???? Please, do go on...