somewhere in the middle
in rebirth the item description that currently exists will be on screen for longer, and be slightly more descriptive when you pick it up.. but you still wont know what an item does till you pick it up.
i know lots of people use the wiki from the start, but there are also tons that dont and enjoy the mystery… so yeah it will basicly stay the same but keep the info there a bit longer so people remember what it is the item they have does.