In the previous Revision Spotlight, the Osyluth are renamed to Bone Devils... And in this one, the Gnomes are renamed to Osyluthy. Frankly, I'm less and less interested in 3.5...
I can understand the move behind making their cantrips Spell-Like Abilities. It's more streamlined, since absolutely no other creature cast spells (unless having "virtual levels" in a spellcasting class, like dragons who are virtual sorcerers). However, I liked the fact that all gnomes were somehow apprentice-level wizard. That change, I won't adopt.
Favored Class: Bard. Bards have always been the rogue/wizard hybrid class, and since gnomes had that stereotype of being trickster mages, it somewhat fit. But frankly, if they had to change gnome's favored class totally, I would have prefered Druid. I don't like that change, especialy given that it will screw multiclassed gnomes (bang!, your rogue 3/illusionist 5/arcane trickster just got 20% XP penalty... Unless you want to exchange your illusionist levels to bard levels, maybe ?). That change too, I won't adopt, or at least not totally -- illusionist will stay a favored class of gnomes.
Weapon Familiarity, and Illusion DC +1; these two I like.