I found a yellow Rare item, and it is unidentified. How do I reveal the properties of the weapon? I tried going to Deckard Cain (as you did in the previous 2 games), but he didn’t have the option of identifying my items.
As of Patch 2.0.1, the below answer is out of date.
Rare items no longer need to be identified. Legendary items still do, though. Just right click them to reveal which item you’ve discovered.
Just right click the item. A short cast bar animation will appear and you’ll identify the item yourself, no need to go anywhere.
This is explained in-game by the small bar at the bottom of the tooltip, but its easy to miss.