I disagree. This is one of the most annoying parts of the originals and of DOS. There is no reason to waste my time as a player to make things take extra time with no real benefit.
It makes the magic items more exciting when they are mysterious and not just +x to this and that kind of gear anyone can see.
It gives Wizards more character or class identity. And Bards, and any other character associated with magic and knowledge. Clerics of Mystra. Makes those characters useful to the party in a specific way when you don't have to rely on NPC's for indentify.
I get it, some players like a more casual fun experience. But small details like this also make the game world complete and immersive. I'd like it to be a factor.
Fighter finds a cool looking sword with arcane markings and goes to the Wizard to ask what it does. Wizard ciphers the runes that mean "Fiery death to the Jotun" and the command word that ignites the blade in flames. Classic D&D. An obvious +1d4 fire damage is boring in comparison.