On the dpad you can hit left for a health potion and right for a mana potion.  After lvl 20 you can no longer use beginner potions, but I can't figire out how to equip small potions in the dpad.  Has anyone figired this out?

Yes. hit the start button or the ring menu with all the pre set menu options (forget which direction that is) and look for the edit ring menu option the in game instructions should get you through from there. oh and you can trade those beginner potions in with Lara in Heidel ( the little girl npc that sells potions just outside the inn) If I remember correctly you get 1 potion of the next rank for every 3 you turn in