When it comes to items being cursed, they are cursed for a reason. As Zappo said, cursed items might bring enemies under your control; the dnd version of the Trojan Horse. Boy, was that Figurine of Wonderous Power cursed!
And then, once the purpose of the item is served, it just floats around nabbing unsuspecting adventurers. I think their role after their primary use has been executed becomes one of leading the party on a detective mission: "why was this ring cursed with control magic?" "who made it?" "who was controlled?"
Once the party starts asking questions, the creator of the item might find out... he wants to keep the party quiet and not ruin his nice little setup. I think cursed items could lead to a great dnd murder mystery, but they should always be used at the DM's discresion.
Then you have items with drawbacks. Anybody read nemmerle's Aquerra story hour? Martin the Green has a ring of sustinance; he's a wizard that doesn't need the 8 hours of sleep. Bonus, right? But it's slowly beginning to drive Martin's familiar mad. Never eating... never sleepy... remembering how nice food was... remembering how much you liked to dream. That should be maddening! So even benefical items have drawbacks, if you look for them.
Ring of Jumping's drawback? Um, maybe people who touch you get warts (ie, touching a frog).
Ring of Wizardry? Develop a bad eye twitch from the extra mental strain?
Robe of eyes? Every time you take the robe off, you find that you're covered in "eye boogers" (you know, when you wake up, the stuff in your eye)
Flame Tongue? Your hands develop very thick callouses from the heat.
Monte Cooke has been saying that you never want to balance mechanics with roleplaying, but in this case I think it's ok. Just because a high level wizard will have to use a Prestigiditation to clean himself off after wearing his Robe of Eyes doesn't mean that he won't wear it, or that the robe is less useful. Just... gross.