I'd give this a tentative yes. There needs to be limits on how many augments an item can have. In ADOM there is a maximum of two 'augments' an items can be generated, one form column A and one from column B.
In ADOM a nice base item with good augments can easily be as powerful as an artifact (though it can still be destroyed). If this is done, Scrolls of Augmentation (or whatever) should be fairly rare.
Not asking for much but just small things like.
You have a long sword 1d8. augmented with fire +1d3
Then you can make 1d8 normal damage and add 1d3 fire damage.
Would be great against enemies that are weak against some magical properties.
And making armor resistant like adding 5% resistance against corruption etc.
i like things like that i guess.
Giving bonuses like +1d3 is fairly useless though... I think that weaponssmiths should be able to make really powerful items by themselves, but everyone else should be limited to small unimportant bonuses, if they'd be able to do augmentation at all.
EDIT: Now that I think of it a bit more, it depends on the usual power of items if +1d3 is important... In ADOM it wouldn't mean much, but JADE might have a longer starting period with weaker PC and more mundane items.