There is an annoying thing with belt slot, items can't spawn on npcs or characters when an item is set to be on it.
belt items can be crafted or bought and will work perfectly, but will just never spawn.
I know it's only used for lantern of radiance, but it actually would be really helpfull for many uses.
Same goes when you set an armor on weapon slot, but yeah, it's more tricky (to make claws it would be awesome if it spawned though
)