I did something similar, but then found I almost never needed the EDC items I'd split out from my phone (for me, camera, torch, audio player and notepad). Some of those are in my rucksac for longer trips out of the house.

Audio players really seem to be the sticking point. Speaking as someone who spent most of my teenage years plugged into an audio player, I'm not sure it was a net positive. It could be said that continuous access to pre-recorded music reduces demand and desire for new music, and that it is another distraction from free thinking time. On the other hand, I don't currently regularly take long bus/train rides, nor do I generally listen to as much music as I did.