The idea behind 3rd ed's ring of Gaxx is neat. Two of the facets on the ring really don't apply to BG2, but that's easily fixed. There's no point in the game where characters are without breathable air, and there's no flying done unless you're getting wing buffeted.
Also, the idea that the ring causes damage to the wearer if removed is a great balancer. (Any item makers out there reading?

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