cbwjm
Seb-wejem
No, you're correct about 5e (unless they removed this option in 2024). Identify is the quick way of determining magical properties, otherwise you learn them with a short rest.Was it 4e, then, where you'd learn all the properties of a magic item just by having it in your possession for 24 (?) hours?
In 1e Identify requires a 100 g.p. pearl each time, which makes it a bit hard to just hand-wave.
Most of the time IME it's shortage of pearls that limits their ID casting.