I applauded the removal of the Identify spell from 4th edition. It didn’t seem to add anything to have a “this item is unusable” period between the acquisition period and the use/sell period. Still, I now miss one thing about Identify: it gave the DM time to think.
I tend to DM pretty off-the-cuff, and I wish there was some way to drop treasure without either sticking slavishly to wishlists or preplanning everything. I’m thinking of changing the rules so that magic items enhancement bonuses are determined right away, but their properties are identified after an extended rest, or possibly at the DM’s discretion. That way I could decide to drop a character’s economy-mandated axe +3, but not have to immediately determine which of the scores of potential axes +3 it is. I could browse the Character Builder while the PCs are exploring or planning; or even react to the PCs’ adventures (a PC who hits with an opportunity attack finds herself holding an Opportunistic Axe).