Poobah noted in an earlier post that you want to learn where to sleep. Some locations will cause you to regain energy and health more quickly than others. So you learn to create an appropriate adventuring strategy using those locations as bases.
Something similar might be possible with food and drink. I'm noticing that not all drink is the same, for instance. If you drink from the fountain on SancIsland, your thirst is quenched with fewer drinks than if you drink from a bottle of Avian Water. This means you become less full, leaving more room for more food, etc.
Same with food. Waybread satisfies hunger better than Bread, and is less filling.
Lastly, I'm learning to eat and drink regularly, before I become hungry or thirsty. Keep your values in the green, and you won't have to stuff yourself later. This is important, 'cause it's possible to become too full to eat!