Not sure I understand exactly on the Fatigue/Effect column - are we saying as a baseline (using Fatigue column) you get only 1 roll on the chart, but you can choose Effect column to take 1 point of fatigue and get more rolls based on Effect result?
And, to be clear on the example above, if I rolled a 12 on the Effects columns wouldn't I get 5 rolls (1 baseline + 4 from effect)?
Can you research the same item repeatedly?
If yes to all of the above, I still think this is as strong, if not stronger, than the Research action. You can basically still get 3-5 pieces of information instantly and save yourself 10-25 mandays which is huge.