I now have a mod that gives you 5 weapon slots. The first slot is always the axe, but you can fill the other 4 slots with any weapon you find. Just hold shift and press the weapon #. There are a few more bugs to work out, but the system works. Woo-hoo!
Once I've got the weapon system fully squared away, I'll move on to either runes or monsters.
When all 3 are in place, I'll write instructions for adding stuff and release the framework as a possible community mod and see who's interested in contributing.
It's starting! Awesome that this is what finally got me modding again, lol.

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edit:
Current bugs:
-Cannot drop a weapon unless you're picking up up one to replace it. Can't figure out why, but I will retry again tomorrow or so.
-Either weapons occasionally stop respawning on accident, or they're falling out of the level. I'll need to figure out which it is.
-Weapons you drop won't auto-refill a player's ammo as he passes by (normal weapon items do). It's probably a problem with the .touch being different or something...?
FTEQCC problems (which I need help with!):
-FTEQCC crashes if I don't turn off "fast arrays when possible"
-The game crashes if I don't turn off FTEQCC's overlaptemps option. Do I need to fix my code or something?
-FTEQCC does not appear to have a "save settings" option, and it doesn't produce a cfg file like FrikQCC. This means I have to set the options every time I open the compiler, or either the compiler or the game will crash violently.

-It might make a decent GUI for editing code if only CTRL+S actually saved the file. It drives me nuts to have to click on the file menu with my mouse. And closing files is sometimes challenging because when a file window is maximized, its X for closing it is grayed-out. Not a huge problem but... why?
I'm using WinXP, so maybe it's a platform thing.
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I have to say, it does a really nice job with the arrays. That's saved me so much pain and suffering. If I can just fix some weirdisms with it I'll like it so much more.