SNMP

Zabbix could also interpret MIBs where possible to eliminate the need for Throw Maps. This would avoid needing to manually duplicate in Zabbix the data already extant in many MIBs.

this probably could be part on snmpwalk/mibbrowser feature, where it would look up the associations, create or reuse existing value maps and link them to items

Even when value mapping is the current way to solve lack of SNMP value translation, I'd prefer a different approach.
Instead of over-designing value mapping, I think snmp agent component in Zabbix-Server/-Proxy should be extended with proper snmp translate functionality.
Of course that should be optional and configurable on item level.

Edit:
Just to clarify. This is not about SNMP traps.
MIB value translation for SNMP traps is already covered by snmptt as richlv noted below

note that we quite explicitly support snmptt, it's even documented how to set it up with zabbix

This function would be really useful to start device monitoring quickly. Symbol translation is one of the important features of monitoring tool. But translating text symbols to Value Mapping is very complicated and time-consuming work. So I've created translation script from MIB to Zabbix Value map. But still, though Zabbix 3.0 supports Value map import/export feature, I think Zabbix should directly support MIB translation.

I hope the translation should be supported by Zabbix WebUI and API. Translated text data should not be preserved into database.