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There's some shoes. Winged Boots or something like that. Could swear that for some reason, there's a head slot item, too. I could be wrong on that one.
Seriously, few alternatives come close to this item.
It's a frikkin' heroic tier item, which means it allows constant flight way earlier than most other options.
Getting a power that grants only a round's worth of flight, or even an encounter's worth of flight, seems silly in comparison.
(I think it should have its level doubled, simply to make constant flight unavailable at Heroic. Of course, at level 18 it might come across as a rather plain item, but there's nothing wrong with that)