I was just randomly browsing and saw this. It's not entirely correct. The wand doesnt have to be unidentified while using it. I raised the Artifacts skill on one of my characters using identified sparkle sticks from 1 to 58 before I ran out of wands. Would be nice if KMonster changed this, in case he is still around here.

It would also be nice to know how many items may be dropped for safekeeping per tile, map or game. I heard the games *.dbs file was dynamic and could grow (I wondered how they would cope with droped stuff while having limited space in the file).
But it would be good to know how many items could be distributed throughout the game in various locations, before the game starts dropping or deleting stuff elsewhere (I didnt find anything on that in the net).

I also successfully identified about 90% of the characters save file sections, including the offsets of mana regen, CC bonuses, last level before class change and so on, but I still got some stuff missing. If anyone else knows what those other values are for, it would be a big help.

He wrote don't identify them. You can identify them of course, if you want to, but you don't have to.
You can drop as many items as you like, but be aware that basically everywhere the items can and will disappear after some time, I'm not entirely sure but that's counted as "been picked up by other people". That goes for some (not all) quest items as well, so if you drop items you might need later for some quest, you can't finish that quest unless you use an editor to insert that item into your bags. That is especially the case in populated spots such as towns, whereas dropping items in the middle of wilderness they usually remain there.