Having an item type clone would be nice. A button (Clone Item Type) that will import an existing item type with the elements attached to it. This would then allow you to change the name of the type and keep the same elements (or add/delete).
If it already exists it's not easily recognizable, and I am doing it by hand. Hand adding elements for similar item types is very tedious work! Especially when 95% of the elements are the same per item type!