As for the jewelry and stuff, i understand that you don't want to force players in a special direction. But why shouldn't that stuff be wearable? Each player will do something at some point and there are already similiar things in the game, like the tattoos you get from Kendra. Nothing game-breaking, but small gimmiks that give your pc a little individuality depending on what decisions you made. For example, you receive an amulett from Niko, why not be able to wear it? You could get something else if you decide to stay with Fedor for example. Since some actions the pc takes, exclude other possibilities, it wouldn't be a bad thing. More like a reminder what direction you took.
Each player can decide for himself if it's worth to go through the trouble to get special items. For example going through university and receive a robe or a ring (instead of just buying the diploma). Learning tailoring to get a special clothing. When there is enough of those rewards in the game and sometimes you have decide what to get, it wouldn't force the player to take a special path. It would be more of a keepsake and in my opinion another reason to reward the player for playing the game.
But however you decide, i think this game is great, because there is hardly anything like it. Therefore you did a great job already, and whatever decision you make, iam sure it will add to the game.