The issue I've had, in the past, with this is when you push "L" for the look command, the look message overwrites whatever the last message was. It's happened to me about a hundred times that I've gotten to a new level, and either there was an exotic weapon or item nearby I wanted to look at, or maybe I started the level invulnerable or berserk, so I couldn't see what colour anything was and I started "looking" at things, and it erased the level feeling. When that happens, it doesn't matter how long the message buffer is; the information for the level feeling is gone.
It's taken a lot of practice and discipline to remind myself, every time I get to a new level, to look at the level feeling *before* using the look command to look at stuff. This is less of an issue for people who use the new mouse interface, but for die-hard console version players like myself, a repeat level feeling button might be nice. :)