I think it may come down to gameplay style and perhaps dedication to the game. I think having items in the EQList encourages exploration because in most cases it narrows down the item location to a zone or two. That encourages me to go to those zones to explore. My personal style and level of dedication means I probably visit every room and take a look at what's there. But I don't type forge or list or ask every mob I see about quests because that exceeds my style/dedication/care level/etc. I probably won't come back and visit ten times to see what pops differently. I know other players do or have done this and that's great for them - I just don't find that level of exploration enjoyable - I find it to be overly repetitive.
I agree that elite items or forges should be left off the EQList because it is rewarding for the die-hard players to find these things and benefit from them. They put in the countless hours and deserve it.