Here are some additional misc. attributes that should be implemented for items.

1. Candles
Misc. 1: The number of times you can use it on each screen, 0 = unlimited.
Misc. 2: The duration that each flame lasts while on the screen, 0 would mean an "eternal" flame (that is, until Link leaves the screen)
*Because of Misc. 1, flag 1 would therefore be unnecessary.

2. Wand
Misc 1: The amount of damage the magic does (not the wand itself)
Misc 2: The speed at which the magic is fired (default would be somewhere around 50--more than 50 would make it faster, less than would make it slower.

3. Books
Power: How much damage the wand's fire does.
Flag 1: If checked, it also triggers all Burn/Fire/Candle flags. If not, it does not trigger such flags. This would be necessary if you want to make the wand fire look something other than actual fire. By default this flag would be checked.

4. Step-Ladder
Power: Change this to be the number of consecutive step-ladders you can use in a row. By default, it would be 1. If you make it 2, then Link can cross 2 adjacent "ladder only" combos if he has this ladder. This would be great for a regular ladder (power of 1) and a large ladder (power of 3)
Flag 1: If checked, than this is a 4-way ladder.

5. Raft
Misc 1: The raft's speed
Flag 1: If checked, Link can get hurt while riding the raft (although he'll always stay on the raft rather than be knocked back)
Flag 2: If checked, Link can use items while on the raft, such as the sword, bow/arrow, magic wand, boomerang, etc.

6. Lens
Misc. 2: The color of the lens layer (selected from the Misc. Colors pallette). Default is black. This way, you can make the lens purple like in OoT, or any other color of your choice.
Flag 1: If checked, it also reveals invisible enemies (therefore get rid of the pertinent Quest Rule)

7. Boomerang
Flag 1: If checked, it picks up items dropped by enemies, such as hearts, fairies, rupees, & bombs. This way, it varies by boomerang, rather than have a quest rule for it.