When I DM, I let my wizard player use his Knowledge(arcana) skill to get a shot at knowing about the magical abilities/strengths/weaknesses of monsters if they are part of traditional lore, lycanthropes and vampires, for instance. Also, one time the party came across a clearing where someone had performed a ritual to summon a huge flock of stirges. There was no active spell, so I didn't allow a Spellcraft check, but I allowed a Knowledge(arcana) check to identify the runes to figure out that the place was a summoning circle.