The lights are on
Actually, there's a stash in every bar (Chapter 1, both sides of Chapter 2, and Chapter 3).
Also, the game has changed a lot since the 2.0 patch. I can see a lot of your cons were addressed (though inventory is still bad).
Overall, a great review. I really enjoyed this game, especially my second playthrough. If I do a third I'm definitely cranking up the difficulty level.
And yeah, using the 360 controller was amazing. It has the second best controller support of any PC game I've played (second only to the unadvertized Metro 2033's support).
If you haven't pick this game up yet and you like fantasy games or RPG's in general, pick this game up.