This issue is more important with the new deep water caves.  If you drown at the floor of a cave, the items scatter around the roof of the cave.  Not only is it naturally difficult to return to the place of death,, even if you get there quickly it is all but impossible to spot and retrieve the items on the roof of the cave.  They are 80% rendered inside the solid block, not water, and bob in and out of visibility.

Suggestion: if the block above is solid, make the items bob below the water surface instead of straddled with the water surface.

 This is a usability issue.