But IIRC in every version the identify spell had the expensive components. 100 gp pearl was the same component in 2nd ed too.
In 3.0 you could identify 1 item per level - but only the lowest function of each item and it took 8 hrs to cst.
In 3.5 you can identify all functions/properties of a single item per casting with a casting time of 1 hour (and it doesn't work on artifacts).
By biggest problem with the spell is the same as its always been - the component is far too expensive. Now make it an expensive focus (100 gp pearl is fine for me) and that is an entirely different thing.
In 3.0 you could identify 1 item per level - but only the lowest function of each item and it took 8 hrs to cst.
In 3.5 you can identify all functions/properties of a single item per casting with a casting time of 1 hour (and it doesn't work on artifacts).
By biggest problem with the spell is the same as its always been - the component is far too expensive. Now make it an expensive focus (100 gp pearl is fine for me) and that is an entirely different thing.