Are there many breaks from doing this? If I just wander around and do dungeons and towns as I fnd them will this cause me undue issues?

If you are in a dungeon, and you see an item with a unique name (e.g. named after a person, such as "Harry's Dagger" or "Tom's Staff"), and maybe the value seems rather low, this may well be a quest item, so don't pick it up. If you pick it up too soon, it may stop you from completing a quest later. If in doubt, you can save, pick it up, then try to drop it. If you can't drop it, it will give a message saying it is a quest item, so reload and leave it there till later.

If you kill a unique boss at the end of the dungeon, he might have a quest item sometimes I guess. But almost always they will be in a chest near him. If you come back to that dungeon for a later quest, the boss may be replaced by some generic mob, but I don't think it will cause any problems.

So basically it is fine to wander randomly.

In other terms sometimes picking up items will save you the trouble, for instance I wandered acrosss most of the Bards College items and somply picked them up, I had no idea they belong to quests for the bards until I went to the college, they even give you recognition for finding it before they even meet you (Kinda, and in Dialog only)

Just my opinion, the wandering is the best bit. I wouldn't let trivialities like broken quests and items stuck in inventory get in the way of that. That's just me though. Maybe do two plays through, one for achievements/completion/all the quests and stuff, and one just for fun and the hell of it.

I've accidentally completed a half dozen or so quests and was able to complete them the second I got them due to already having the needed item. Wandering is good and fun, do it

My favorite play style is to just wander and explore the world, vs quests and quest lines

Because that is what Bethesda does best an a game like this -- give you a big open world to explore.

As some have pointed out, many of the stories behind the quests and questlines, as well as the NPC dialogs, are lacking. That has not been a strong point for Bethesda in these games.

The detailed world is very much a strong point.

There is no real downside, I think, I suppose it is possible to break a quest, But I think most quests are protected somehow. Like an area that is inaccessible until you get the quest (by some quest key or similar) or by an item, creature, or NPC not being present until you get the quest.

Hmm, maybe they fixed that thing about picking up items too early. Should go and see if I can get rid of em.

It shouldn`t. I always wander about before doing the quest until I`m like level 10. I have however come across some people and things and thought, "This looked like it was part of some quest..."

Like the time I slaughtered a ruin of bandits and found a dead named woman in civilian clothes who looked liked she`d been abducted.

But often when you do find out what the quest is, you can just immediately tell the guy you`ve already done it and it`s ok.

you can store them in containers if that helps