A little inconvenience is worth exercising your rights against unreasonable search and seizure, such as with checking of a gun's serial number or ID verification.
Asking for ID isn't a 4th amendment violation; They are not searching you and are not seizing your property.
I'm very much a constitutionalist, but I do understand the difference between having one's rights violated and simply being the subject of an inquiry when you do something of questionable legality or judgement. In most cases, simply being cooperative with these inquiries results in a no harm, no foul situation that allows you and LEOs to remain on amicable terms. Being an arrogant prick toward the cop will probably protract the encounter and make it less than favorable when it doesn't need to be. Things like demanding to see a radar during a traffic stop or accusing the officer of violating your civil rights when he really hasn't aren't going to help you (most likely will cost you time, aggravation and possibly money). I have enough stress in life without creating an undesireable sitation that doesn't need to exist.
If a gaggle of police go pounding on my door and demanding to enter my home with no warrant and no reason they can articulate for believing it is a case of exigent cirumstance, they're going to be met with firm opposition and hostility. But if I get pulled over for some minor infraction on my way home from a friend's house at 2 am and have a back seat full of guns and ammunition because we'd been shooting earlier that day (rather, the previous day), I think it's perfectly reasonable for the officer to inquire about them, and I'm not going to give him a hard time for asking. This has, in fact, happened, and by being courteous toward the officer and simply giving him a satisfatory answer that indicated I was not up to no good, I have always left such encounters quickly, with mere warnings for the infraction and no animosity between the officer and myself.
ETA: I debated about mentioning this, but I think it's relevant.
I recently had an encounter with the local sheriff and CPS. You see, my daughters aren't actually mine by blood, and every once in awhile their biological father shows up on the radar and tries to cause problems for my wife and I. This time, it was a call to human services accusing us of leaving loaded firearms in the girls (2 year old twins) bedroom and everywhere else in the house. Now, in CO, there are no laws saying that we can't do that, but it is possible that one could be charged with endangering a child, and it certainly wouldn't help our case in a custody battle. Of course, it isn't true; My firearms are not accessible to the girls. Anyway, the DHS investigator showed up with one local deputy. They asked us who we were (did not demand ID) and then explained the nature of the vist. The were polite and professional, and my wife and I acted in kind. After verbally verifying that they had the correct residence and explaining the situation, they asked if they could have a quick look inside. I could have refused, been adamant about 4th amendment, you need a warrant, blah, blah, blah. Do you think that would have made the encounter pleasant or quashed the bogus accusation by her ex? Of course not. I had no problem letting them verify that there were no deadly weapons in the toddler's bedroom or areas they played, and the result is that further accusations by the bio father will end up being met with a great degree of skepticism, and he could even end up being charged with harrassment if it continues. As well, I ended up making a positive contact with a local deputy, with whom I talked about reloading and other gun related subject matter for a good 15 minutes and even got a contact for the FFL he uses that will definitely save me some money on new firearms.
Being an idealistic prick toward the cop and investigator wouldn't have helped me or anyone else. In fact, only bad things could have come of it. It is entirely possible that, had I refused to identify myself and refused them access to the house, they could have detained me and obtained a search warrant. Even though there were no violations and the accusation was false, "excercising my rights" in such a scenario would have cost me time/money (I work from home), would have made them inclined to actually search the house rather than just take a peek, and it would have been noted on the case file that I was uncooperative. None of this would benefit me or my family, and it could certainly have an undersireable effect on the outcome of a future custody case (these little girls CANNOT benefit from being in an unsupervised environment with their very immature and volatile biological father).
Authority is meant to be questioned.
Sometimes. Whether or not it is prudent or beneficial is entirely dependent on the circumstances.
If one is not comfortable refusing an officer's request for ID, a pragmatic alternative is to simply not carry ID. Can't give up what you don't have.
In many cases, they may be able to detain you until they ascertain your identity. Again, is it worth it?