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The carrying capacity of your characters is set at game start, and does not change with increases in strength or class changes, as it does in Wizardry VII. If you want a fix for this, Mike Marcelais has made one available.
The Level 7 Spell Bug will haphazardly render monsters immune to the four level 7 spells which damage all monsters: Nuclear Blast, Word of Death, Mind Flay, and Deadly Air. A patch for this bug may be downloaded here.