Here's the information I was able to gather. Keep in mind that the Toybox feature is still early in development. Some of the questions may not have an answer yet and functionality may be subject to change as development continues on the feature.
What happens to items that need to be equipped?
Orb of Deception
Super Simian Sphere
Burgy Blackheart's Handsome Hat
Would be amazing if we no longer had to equip them! ^_^
Currently, the idea is to have fun item effects be converted into something similar to a spell. You'll be able to activate the effect without equipping the item.
I have a disco ball and picnic basket loot card sitting beside me. Wonder if I should hold onto them.
You should hold onto your items.
Omg, thank you so much for this improvement!
This means that all of those archaeology toys will be included too?
I have plenty on this character, but I simply cannot bare to level and grind all that again on any other toon I have. I've tried, but gave up.
And that's a plus for inv space :) I'm so cluttered with toys that half of my inventory holds either them or transmogs.
Yes, fun items obtained through the Archeology profession will be included in the Toybox tab. But please continue hanging onto those items while details are still being worked out.
What about my Haunted Memento?... please!!!
We don't know how that item will interact with the Toybox tab yet as it has a number of special qualities (can be thrown, its effect is activated by simply having it in your inventory). The important thing is none of the items are being removed. If an item doesn't make it into the Toybox tab, the item will remain as it always has.
The net effect will still be more inventory space for you.
I have Sylvanas' Music Box sitting in the bank unused, i need it account wide.
Some items may be character specific if we find a need for it. Still, a vast majority of the items in the Toybox will be account-wide.
3. Please don't remove quest items like Archmage Vargoth's staff (can't link it for some reason)! I heard quest items won't be placed in your inventory anymore. Please make the exception for these types of items!
We'll be keeping an eye out for quest items that players have been holding onto for fun and won't convert it into a quest item so it wouldn't go away.
Been wanting to know: what about gear with fun effects, like Jade Raccoon? My main's inventory is full of this kind of stuff.
We haven't determined what will or won't be considered a toy and recommend that you don't vendor or delete anything just yet.
You should create a new post with all the items that can go in both the "Toy" and "Heirloom" tabs. That way players could discuss any items they believe should be added or removed from either tab.
Feasibility for the creation of such a list can be looked at later in the testing process once more information is available.
I have Sylvanas Music Box on two toons.... does that get condensed into one item with a shared cooldown between all my toons or can it be made to have two "charges" before setting the cooldown? Or even two separate "toy entries" in the new book or whatever it is?
We're still undecided on how the cooldowns will work at this time.
A final disclaimer. This feature is still early in development. Depending on how it works out once we're able to test it, some things may change. The goal of the Toybox is to free up inventory space. Items that don't make it into the Toybox because of technical or other reasons should still be left alone with no change.