No, I am not going to make a youtube video and post it.
That idea either has been done to death already or is going to be done by someone. And done way better than I ever could.

Back to the idea of what are the best Inventory's in games.
There are so many good ones.

Megaman,
Zelda,
Metal Gear,
Final Faantasy,

The List goes on and on.

You do not have to pick ten.
But I do have to ask that you explain at least one of your choices.
About 3 sentences should do. If you want to say more? Feel free to do so.
If you only want to drum up a list? Go ahead but provide an idea of what you are looking for in your favourite inventories. Like Amounts, Explanations, History Lessons (Fake or Real), Easy recognition (like pictures that are self explanitory or obvious)... Anything.
Good Luck.
And Thanks in advance.

My first selection for today on Inventory is a classic from the Syphon Filter Games. (The First One for the Playstation.)

You can carry one of each gun in the game and equip it in the menu or cycle through them in play rather easily.
They provide a picture for visual Reference and give a brief description and history lesson. (Fake or real? Does not matter. You get the idea for where and when to use it.)
You see the damage rating, Rate of fire, and even have an ammo counter to plot and plan your next move.
Very Cool and very good for extra content on a replay or two.

Rank on a scale of 1-10??? ("One" being the best and "Ten" being the least developers could or should do.)
Somewhere in the middle like Five or Six.
(I have not decided at all yet but "Syphon Filter" Deserves a spot on a top ten inventory list. Period.

Good Luck To All.
Peace.

orionfoxgibson :

1 Ice arrows (Majora's Mask)

Ice arrows, like in Majora's Mask.
The ability to imobalize opponents for such
a small amount of magic is great. Ice arrows
are underestimated.

2  Magical Sword. (Zelda 1)

Powerful melee weapon that I can throw when on full health.

3  Hylian Sheild. (Twilight Princess)

Best Shield around.

4 fire flower. (Mario bros)

Backup weapon, that way I can burn multiple
enemies in short range by shooting fireballs from my hands.

5 spur (Cave Story)

Sniper, minimachine gun combo.
This weapon is the best handgun ever made.
Charge up powerful, long range shots or quickly
shoot many weaker bullets.

6 ring (Sonic the Hedgehog)

As long as I have one of these, whenever I get
hurt, I just lose the ring instead of getting injured.
I wish I could take one with me into any shooter game
with one-hit-kill sniperers.

7 chaos emerald (Sonic Adventure 2)

CHAOS CONTROL

8  elite rifle (Star Wars Battle Front II)

This rifle shoots three shots in a row in VERY quick succession.
Also very accurate and powerful. 

9  Metal Cap (Super Mario 64)

Temporary invincibility. NOTHING WILL STAND IN MY WAY!
The super heaviness may also be useful in some situations.

10 King dedede's hammer.

Slow, Powerful melee weapon of death.
Pancakes anyone?

I think the annihilator beam from Metroid prime echos should have a spot. If you have ever played through this you would understand why, once you get this upgrade enemies drop like flies. I love the power and speed increases and plus the upgrade for it looks like you shatter time.
Secondly have you ever gotten the fierce Deity's Mask in Majora's Mask? Sure you can only use it in boss rooms, but if you have ever pulled the free roam Termina glitch, that gets pretty fun.
The feather from super Mario World, once you master flying you can skip through any level and find any secret. Plus, there's something about a cape that makes you feel a little unstoppable. 
Also the eagle eye expansion for the bow in windwaker deserves honorable mention, turning your bow into a sniper pays off so well on some of those stealth missions.
Anyone else ever get obsessed with using Din's flame in Ocarina of Time? I did, used it almost any chance I could. Just really cool looking and sometimes ridiculously practical. 
Masterball, although not needed, is the ultimate pokeball and if you have ever duplicated it you really feel like a boss in the wild, plus your Pokedex was probably decently impressive.
If you want gore the cerebral bore weapon from Turok for N64 will never disappoint. Brief description of shooting out of a gun, latching on to heads and drilling.

Now that I have a good visual example I'll move on to the next good Inventory system in video games.

"Zelda a Link to the past."

I like it due to how strait forward the inventory is. Simple Icons and Simple Language that does not waste time. Time you need to get around due to how much traveling, exploring, backtracking, and errand running you do. If the inventory system were as complicated as F.F.8's "Junction System"? The game would take a year to finish and play.
Thankfully it is simple and efficient due to it's design.
Rank?
I give it #2. As in it is the second best Inventory System I have graced.
(Why not Zelda 1 for the N.E.S.? The S.N.E.S. is smoother, more detailed, and has everything depicted clearer. It is faster.)



Thanks again.
Good Luck To All.
Peace.

I'm actually particularly fond of the one in Castlevania Lament of Innocence. This game uses a real time inventory, being only a small window at the bottom of the screen that is controlled by the right stick and Dpad. My only complaint it that it uses the X button for selections. The game has two block buttons, one of those could have been used for the real time menu. Still, the ability to use all your items without going away from the game is nice.

How about the portable hole from Disney's Toontown Online? You select an area you've been before on the map that you want to go, you then pull it out of your pocket, throw it on the ground in front of you, and then you jump in. Your hole will open up at that place, you'll jump out, and then your hole will close up. On Toontown it's always usable wherever you are. I know It's not a bomb or a personal force field or anything like that, but I think it would be a good addition to any item inventory.

I have to give it up to Metal Gears Inventory system.
The trigger buttons are a blessing and the Tools selected for each mission (Game) are wonderful.
Easy selection process and Simple button economy.
Nearly perfect.
The Items and Gear are all easily identifyable and rated and gauged.
Wonderful program.
Good Luck.
Peace.

There are two things and two things only needed for a video game inventory:

1.  Medkits

2.  The BFG 3000 from Doom.  Greatest weapon of all time even though I had more fun with the plasma rifle.  One BFG 3000 round and everything is gone.

BOOM!

  What about Resident Evil 4's inventory system? I loved how your inventory was quite limited, and you actually had to salvage the most important things in each situation in order to survive. It was even a bit of a puzzle at times!

My stepbrother hated it, but I quite enjoyed it.

I think Ratchet and Clank series, especially part 3, has great quick select system. 
I think the closest connection to system is the aforementioned Link to the past, in that you can see all the items on a grid and pick the one you need, but this is even better because
1. Because of the analog stick you don't have to scroll the item list but rather just point towards the one you need.
2. Pressing triangle opens the menu immediately and it stays open as long as you hold the button down.  Changing weapon is quick and easy, so you can constantly choose the best weapon for each foe instead of just using the same for all enemies.
3. It stops time so you can think what to choose instead of desperately trying to point to the nearest one so you don't get shot in the meantime.
4. It shows the level of the weapon.

Only minor flaw I can think of is that you need to choose from inventory what weapons you want to keep in the quick select  ring. But that is also rather quick and well worth having a good menu in the middle of a battle. 

select_UYA.jpg
>

(Sorry if the image doesn't show. I've never tried to insert image before. Here's a link just in case
http://static4.wikia.nocookie.net/__cb20100227050128/ratchet/images/8/8a/Quickselect_UYA.jpg )