Hm, tough question. While I never thought too much of the King's Quest narrator, I LOVED the Space Quest IV narrator, as I felt it added to the over-the-top cheesy sci-fi movie atmosphere that made me love the game. With that in mind, I can see how the narrator in King's Quest could give this sort of vibe of a storyteller reading a fairytale to a child, or something along the line of that, that could add to the atmosphere. So I guess a narrator is kind of important.
As for multiple icons, once again, hard for me to say. I wasn't a big fan of cycling through the icons in Kings Quest or Space Quest. It just felt a bit tedious having to cycle through several useless commands (seriously, how many times did you have to use the smell feature? Though some funny lines did come out of it) to find the one you want. I loved the system LucasArts used in Full Throttle though, when the icons came up after holding down the mouse button and you could quickly select what you wanted to do. I also liked typing what I wanted my character to do in the early Kings/Space Quest games, but that was hampered by the limited vocabulary of the games. Once again though, I'll say it would be more good than bad.