The ability to create a report by custom form would be greatly useful to improve efficiency and reduce erroneously selecting the wrong columns or missing a column.
The idea is that if I want a report that shows custom form 1 (issue and project object). I can select I want an issue report that pulls in all selectable fields as columns from custom form 1. This report would still have the same capabilities instead the creation mechanism allows room for columns to be "prepopulated" by custom form indication.