I've been working with IRT and usually I interpret the item information function and test information function based on the purpose of the measure I'm developing. A screening measure will most likely have more information about the low levels of ability. A performance based test might have more of a balanced TIF or might need a curve located to the high levels of trait.
One thing that picked my attention is that we find people saying on papers that item "y" has little information at any given location or that the test provides little information about the trait continuum, etc. So... my question is are there guidelines for the amount of information that an item or a test should provide? Are there any rule of thumb to interpret how much information should the TIF peak at?
I understand that the peak of the TIF or IIF isn't the most important information as we need to pay attention to the area to understand the distribution of the information, still I had that question on my mind....