I doubt it would make a difference. Most of the lag, I believe is due to having information sent to many players in real-time.
That's the head files, the body files, hats, levels, text. Other types of info are not as heavy as the previous, like stats, name, guild name (They aren't sent as constantly as hats, levels, etc)
The amount of loot is more of an individual stat. You can only see it, and you have to ask the server to tell you what that amount is. It isn't on your profile... your loot items are in a folder within your inventory.
Doubt it would make a difference, if anything it would be a very small difference, so it seems that loot was capped at 200 as an inconvenience. Force players to sell, and not feel comfy, whilst saving up. People would set milestones, like 1k or 10k loot.