Gear Packages and Bases of Operation

The single slowest part of character creation, in my experience is picking equipment. There is rarely that much difference between the gear picked, unless an experienced or crafty player is involved, and yet picking the same stuff takes forever every time. Players are trying to pick enough items to have something for everything, and they try to carry it all.

But this begs the question, why bother?

No, seriously, why bother? What is gained by doing this? -- As far as I can tell, maybe an illusion of player control, but even that's debatable.

My idea for a solution is two fold, as there is both cause and effect to be addressed.

Cause - players feel they need to be prepared for all things at all times.
I blame Tolkien for this mentality, as he wrote the grand wandering story of the One Ring. Ive played too many games were the PCs travel all over the game world, and everything has to kept handy. This isn't completely terrible as its brought things like the Portable Hole and Robe of Many Things which are fun to play with. However since players are wandering and expecting to rely on themselves, you get a laundry list of items. So rather than changing the items available or something extreme, why not just give them a base of operations? Maybe a house, or a ship or some other place where stuff can be stored. You don't need to carry all your crap when you can just pop home and grab that ten foot pole or hydrospanner you need. But that's not the real reason to provide a base of operation, you do it to tie the players into a setting, to incorporate them into a story so they actually might care about at least a few npcs.
Solution - Provide a base of operation with a safe storage facility, and an opportunity to set down roots through roleplaying.

Effect - players want to have items to handle everything
Players should want to be prepared for problems, as thats half of what being an adventurer is about, but there is a difference between prepared and carrying everything and the kitchen sink. Anything can be taken too far, and poring over equipment lists can eat time like no ones business. Most genres have specific gear that's all but mandatory (and the DM had best know their material enough to pick these out) so total them up and write them down as packages, as they should show up. This has the added advantage of reminding the DM what sort of obstacles should be in adventures. If they players only have to pick one or two items and a package instead poring over lists it should go quicker. In fact you should be able to organize packages into specialized forms, such as one for the combat wombats, sneaky types and so on with the gear they need.
Solutions - Organize commonly used items into packages to cut down on what needs to be bought.