IMO
Having multiple rune pouches would be awesome, and if some way implement the ability to 'name' each rune pouch? That would be pretty cool and useful.
But when loss on death, you could do the same thing as you did with dragon defenders / torsos / untradables, have them become broken and require 500k-1m or more to repair?
Along with the loss on death thing, have the rune pouch become broken, and lose all of its contents (runes).
that would be pretty cool/useful imo
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Edit: Oh, and can only have one 'filled' rune pouch in inventory?
When it comes to selling it I'd think that they'd have to be completely empty or broken. Or have some sort of symbol to diagnose that it's being used (untradable)...?