I always found the "experimentation technique" to be the most fun method of identifying magic items, personally.
To me, it was fun in the same sense as a good joke. And got spoiled by over-use in the same way. Once it gets to by-the-numbers: jump, wave hands in flame, walk into wall, stick head in bucket of water . . . it's both ridiculous and *yawn* at the same time.
Now a character forgetting he was wearing the unidentified ring, and wishing out loud for a cup of hot chocolate (and then getting it) was a thing of epic-always-to-be-remembered fun of course . . .