In TSW (pretty much the only game I play where there's any reason to organise the hotbar) I go with my best weapon first, followed by best pickaxe. Saves me a space if they're the same. Follow those by cobble and dirt (or wood if I have more wood than dirt, but I don't use for than two spaces for blocks). Then, skip to the back, I put my flint and Strel in the last space, with my TNT right before it, and my speared befire that. If I have a gapple that goes right before the epearls. Any remaining spaces are food.
To sum it up, going left to right it's normally:
1. Weapon
2. Pickaxe
3. Cobble
4. Dirt
5. Food
6. Food (gapple if I have one)
7. Epearls
8. TNT
9. Flint and steel
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