Don't bother putting more than 3 points into Identify (ideally, this includes the free point you can learn). There are only a handful of items in the game which have an Item Quality of 4 or more. It is extremely rare to see a random item with an ID level or 4 or 5 drop, so 3 points into Identify will ID 85% of all the items which drop.
That said, if you don't mind reloading to get good items, there are a few unique items with an ID level of 5, so having items with +Identify on them could be useful to keep around.
I wouldn't put more than one point into Repair because Repair rank 1 repairs an item to 60% durability. An item at 2% durability is just as effective as one at 100% durability, so there's no need to spend more skill points into Repair.
