The current equipment has a slot for light sources. It's kind of "third" hand to hold the torch or whatever. You still have left and right hand slots where you can equip weapons and shields.
However if you want to be realistic you should have only two hands to hold things. But is it worth it? If you need one hand for the light source you would not be able to hold a shield when fighting in poor lighted places, not to mention two-handed weapons. You could always drop the light source on ground (in Kaduria it's possible, the item will still work as a light source) before fighting, but it would be quite annoying I guess.
The way to make it less annoying would be lot of lights around the dungeon in most places. This is actually what I'm planning to do anyway and it could be a nice way to reduce the need for a personal light source. But then again, dungeon wall torches are the great role-playing example of unrealistic light sources, because they never go out. If they did, they would be always burnt out, unless there is an army of goblins replacing them all the time.
I like the idea of "more" realistic gameplay, but you have to be really careful or it will create some tedious tasks for the player who start to hate it after a while. I know I would.