Using icons for some functions and text for others probably isn't very consistent (unless you follow established idioms such as toolbars and menus, which are both places for commands, even though one is for icons, the other one for labels – doesn't mean that it's a good idiom, though).
To quote from Jef Raskin's The Humane Interface:
In every study that considered the question, icons were demonstrated to be more difficult to understand than were labels, especially at first viewing, which contradicts one of the most frequently cited reasons for using icons, namely, comprehensibility for beginners. GUIs often present us with windows full of identical icons, each with a label. The icons are small and numerous, and there are dozens of different icons. The limited conditions under which icons are effective do not obtain in present computer systems.
Although it is true that tiny icons can take less screen space than labels, you have to ask: At what cost? The smaller a button, the longer it takes to operate it, and the more difficult it is to find; also, it is difficult to make a small icon distinctive. Another small point: Icons take more time to create than do words.
and
Mayhew [1] cites a number of research studies on the use of icons. Unfortunately, most of the studies did not compare labels to icons. But from these and other studies, we can conclude that icons are most effective when there are at most a dozen of them and when at most a dozen are seen at one time. In addition, it is essential that they
- Are visually distinct
- Do a good job of representing the appropriate concept
- Are presented at a reasonably large size, typically larger than a text label would be
[1] Mayhew, Deborah. Principles and Guidelines in Software User Interface Design (Englewood Cliffs, NJ.: Prentice-Hall, 1992).
I'd agree with Raskin on this point that in many cases icons really obscure the meaning of concepts and commands and you need additional text anyway to explain them. Aza Raskin's article The End of an Icon is a good read on this as well.