Fixed. IWG2 now has class-based item usability restrictions.
Paladin-only items can only be used if you have at leasat one level of Paladin, etc. (druid, rogue, bard, monk, yada). Most items (like swords) are still usable by everyone (even clerics!). Most "generic magic items" (wands, that kind of thing) have the same usability as IWD2 wands: bard/wiz/sorc/dru/cleric or (rogue with use-item).
In general, almost everything is useable by almost everyone (e.g., rings that grant bonuses to hide in shadows can be used by anyone because anyone can hide in shadows). I am not particularly interested in spending any more time reverse engineering the usability bitmasks to fix minor details (e.g., moondog figureine can be used by anyone, no race-based restrictions, etc).
In my opinion this successfully captures the character of major items (like bard instruments, holy avengers, staves of the woodlands, etc.) while keeping the 3E spirit.