I didn't see this suggested elsewhere, so hopefully it is new.
In light of making the Hall of Monuments a bit more useful as well as prestigious I think it would be great if the statues actually took the place of the real item. I've only seen the armor, mini-pet and hero tapestries but it should be fine for weapons also.
For example, when we place perhaps a 'mini whiptail devourer' on the mini pet stand it would be good for that actual mini pet to be taken out of our inventory and stored ON the pedestal. Following this, we could take the mini pet BACK off the pedestal to use at our own discretion!
The implementation would look something like it is now, only where the white named item (eg: 'mini whiptail devourer') is on the pedestal it would be more like an actual item with attributes (eg: 'mini whiptail devourer, assigned to person_name').
Benefits I see:
* Storage - we gain the armor, weapons, mini pets slots from our storage back
* Pets - we can have pet storage, and will be able to swap between pets!
* Ownership - the pedestal items are assigned so only the owner can pick them up
* Implementation - it should be a very simple extension from how I imagine it currently is
* Ease - if we wanted to use an item, we would have to visit the HoM
* Customization - items placed on pedestals will still be customized, however I can't see ANet changing their minds on this
How does that sound?