Items held by players will stop being rendered as soon as the player model is not rendered anymore. This causes items to stop being displayed early when moving the camera away from a player. Regardless of held items, players' shadows will also stop being rendered when the player stops being rendered.
What I expected to happen was...:
I expected the item to be visible.
What actually happened was...:
It stopped being rendered as soon as the player model stopped being rendered.
Steps to Reproduce:
1. Stand right of a player holding a sword
2. Move your head to the right
3. The sword will disappear abruptly
Screenshots of this bug in action: http://imgur.com/gjOVz,WZnb1