*casts thread thread necromancy* Since this is one of the first search results that pops up depending on your keyword combo, I will answer this question that has long been forgotten like an ancient lich's humanity. The bag of holding is useless. You need to get the extraplanar chest early in the game. It functions like a bag of holding. It is a summon able item that you can store stuff in. You need to unsummon it after every use however or the planar authorities may confiscate it for violating interplanar laws and you wouldn't want that /s (but seriously, you need to put that away).
@Eclypticon while I admire your desire to help out fellow forum members with questions, this one post thread was posted a good 6 years or so before the Extraplanar Chest was even coded. Some posts are best left buried.