It would be a shame for sure if the old system isn't kept.
Here is a few other situations:
You have a thief in Stealth, and a Mage with invisibility.
Suddenly you hear the enemy mage do the Chant for Divination spell,
You pause the game,
You recognize the chant, and you can see the very characteristic flow of magic for Divination form in front of the enemy caster.
You instantly know your invisible mage and stealth thief will be in trouble if they don't act quick, or they could also escape from the scene,
The tactical choice is open after you unpause.
Another situation where you recognize the Conjuration chant.
You know there is a probability the enemy caster might be summoning some creatures to help him, but you can counter act by timing a Fireball or a Skulltrap to land 1-2 seconds after enemy spell is landed.
Many small things like this is what made Baldur's gate great.
They are very subtle features in the game, but they can add a whole new layer of tactics for spellcasting for those who are familiar with the system.
