Hi I just purchased the Ultima 7 collection and I can not find any information as to what all the slots on the inventory means. I get the general ones like for feet, torso, hands and neck, but is there a reference page someone can link that ids all the slots? Thanks in advance!

This image should make it pretty clear.

[url=http://wiki.ultimacodex.com/wiki/File:Iolodoll.jpg]http://wiki.ultimacodex.com/wiki/File:Iolodoll.jpg[/url]

You can also wear a ring on each finger, but you must remove the gauntlets first (except in Serpent Isle). SI moves the location of the quiver, and allows you to carry things slung over your back, like weapons, shields, or a bedroll. Additionally, it adds slots for a cloak and earrings.

Refer to the picture the poster above me linked to. Here are the slots:
Left column, top to bottom:
Quiver: Holds arrows or bolts.
Neck: You can equip necklaces or neck armor here. (Iolo is wearing magic gorget in this pic)
Chest: Chest armor, obviously. You can also equip cloth shirts and such but there's no reason to
Right Hand: Usually used for shields because any weapon held here isn't used in combat, except for hawks and fire swords. Hawks will still be thrown and fire swords will maintain their lighting effect when held in these hands.

Right Column, top to bottom:
Head: Helmets or hoods are equipped here
Back: Reserved for backpacks or other containers normally
Waist: Used usually to hold side weapons
Left Hand: Primary weapon the character will use
Hands: Where gauntlets are equipped. If no gauntlets are equipped, you can equip a ring in this slot and in a slot opposite to it that appears on the other side of the paper doll.
Legs: Leg armor, cloth pants. Same as chest slot really but for legs.

Very Bottom:
Feet: Normal armor, just use whatever boots complete the set. Wearing swamp boots will make someone immune to being poisoned by touching a swamp tile

You can also have items automatically added to the proper slot by dropping them onto the character's sprite, can't you?

Also, once a character is strong enough, throw a chest or crate on his back instead of the backpack. LOTS of space for carrying stuff once you do that!