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Most items are worthless and can be left alone, basically all the junk items, food/ drink unless in hardcore mode (which honestly sucks), and all that sort of stuff don't even bother picking up to begin with.
Some items can be used for crafting, but crafting is fairly worthless outside of ammo crafting (and even ammo crafting is just a luxury and can be entirely ignored without consequence) and ammo has it's own components which are weightless that you can only get from breaking down ammo (without mods).
Basically unless you plan on using the item or it has high value for selling it's best to just leave it.
If you new to fonv I'd like to advise to look closely to the money (caps) in the shop owner. They will pay the caps they have at that time. Even you sell a super expensive set of loot but if the shop have only 300 cap, you will get only 300 and end the deal.
Armor most of the time isn't worth it to pick up unless you can repair your own with it, too heavy most of the time, even basic leather armor is 15 lbs.
A fair chunk of the miscelenious crap you find on the ground is mostly useless though some stuff can be used in recipes. Scrap metal is probably the most "useful" junk you can find since you can bring it to a workbench to convert into lead for ammo crafting.
First thing's first: pick up what you need. Like so many others have said, pick up anything weightless, as most of those items you'll be using a lot of (ammo and stimpaks in particular), not to mention how fast items add up, which can be used for crafting or selling. Compare in your inventory what guns and armor are better than others, and make sure to pick of duplicates of guns and armor, as you'll be wanting to repair your stuff often. After that, the bulk of what you pick up is going to be sold later. The majority of the items that you'll be in need of are sold at vendors, so what looting really comes down to is: how much money are your items worth? So instead of thinking that junk is useless, or that you should avoid this or take that, think about how much you'll be making from your inventory.
It's real simple what you need to do: you want the items with the highest weight-to-value ratio. Say you find a junk item weighs 20 lbs and is worth 60 caps. Weight-to-value would be 3 caps for every 1 lb. Now say you find a gun or something that weighs five lbs and is worth 100 or so caps. Weight-to-value would be around 20 caps per lb, so you should take items like that which make the most out of your storage space.
After a while, looting this way will become pretty useless (especially after you play the Dead Money DLC) because you'll be swimming in caps, but I don't want to spoil the fun for you later. Once you get past this point in understanding, try using your own judgement as much as you can when playing. If you continue to follow guides whenever you hit a roadblock, it gets pretty easy to de-personalize your game experience.
Never heard of either of them, if anything Hbomber on youtube would be responsible for the most recent influx due to his recent video, but in general NV is just a really good game and enough people talk about it for word to get around.