One reason why charging time to see the character’s inventory and look around is a bad idea: it links player and character memory.
Major problem is that roguelikes aren’t realtime. It’s entirely possible that I might check my inventory in-game and then leave it entirely (whether save & quit or leave-running) to do something else: say, dinner. Maybe rebalancing a cabinet, petting a cat, or otherwise focusing elsewhere. When I return, possibly days later…I’ve forgotten what I was carrying, despite the fact that zero time elapsed in-game. Under the proposed change, I’d be dinged time every time I loaded the game. TVTrope: Now Where Was I Going Again?
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More generally, I generally know what I’m carrying on my person. I put it there, can feel it in my pockets, stick a hand in for a quick check, etc.
The player doesn’t have that extra sensory input: only what the game tells you. So certain stuff that normally could be accomplished trivially (look in a shop window, pat your pockets, think “is that my pliers I’ve got there?”, and so on) needs a full inventory-screen or area-inv check.
When I’m in the IRL local milsurp, I can look around and tell: winter coats, army pants, cash register, T-shirts, pocket knives, leather vests, coveralls, army jackets, sheriff shirts, straw hats, boots, shoe covers, web belts, backpacks, chest rigs, drop pouches, utility vests, wool berets, trucker caps, sunglasses, bandanas, fur hats, maybe the canteens…you get the idea.
Might not be able to tell if the stuff (fits). But I can get a surprisingly good idea what stuff’s around. So, IME, the V function isn’t unrealistic.