Drifter over at co8 has crafted a patch to make NPCs in your party far less annoying. They will no longer loot, and you will be able to control their inventory, so as to get rid of their original equipment. Moreover, you can decide what they sell, just as if they were a PC. If you sell anything from their inventory, they will keep the money, but you can transfer it to a PC, and you'll get it. If you don't want this to be a "cheat", you'll have to police yourself and give them their fair share of stuff, but at least this way they won't carry a bunch of useless garbage that only weighs them down.
It works by modifying the file "temple.dll", but will not do so at the expense of previous modifications. What this means is that you can apply this to just about any version of the game after patch 2 has been applied (thus creating a temple.dll file). However, if you apply any patches that involve replacing or altering the temple.dll you may have to re-apply this patch. I have personally confirmed that it works with my setup: patch 2 and temple.zip. It did not affect my save game, where my three NPCs were immediately as advertised. In short, if you use NPCs, apply this now and welcome to convenience city, population: you.
Thanks and kudos to Drifter for answering the prayers of many players.
The link to the patch as of the time of this post is here: