Title. Per the official encumbrance rules from the Core Rulebook, a medium or heavy load (34-66 and 67-100 pounds, respectively, for a character of Strength 10) incurs a speed penalty (30 ft. goes to 20 ft.), a check penalty to Strength- and Dex-based skills (-3 at medium, -6 at heavy), and a maximum Dex bonus to AC ( 3 at medium, 1 at heavy).

I know there's a general consensus in the D&D community that encumbrance rules are unfun, but I haven't talked to many PF players about it, and our game is somewhat more simulationist. I always run it myself to include the speed penalty but nothing else--I'm a big believer in dump stats coming with real penalties, but the other penalties seem really punishing to Dex-based characters. However, I was introduced to the game with no penalties at all.

So what are your thoughts? Do you run a lightened version of encumbrance? No encumbrance rules at all? Or do you go all in on RAW for the sake of simulationism?