Artoomis said:
Wrong. Shrink Item lasts 1 day/lvl, so eventually the duration will expire, then what? It's easy enough to say it then reappears in your hand, but that's a new rule (you didn't snap your fingers, after all). And what happens if something else is already in your hand? It drops on the ground. I suppose, but that's aother new rule. That's two new rules needed, and that's only for one spell.
You aren't casting Shrink Item, you are using a magic item that does something similar to the spell. Big difference. That spell is just a prerequisite...that's it! If it were actually casting the spell, it would say so like it does in all the other magic items that are actually casting spells (for example, the Scabbard of Keen Edges, ring of invisibility, freedom of movement, or feather falling and LOTS of others). There is no duration to how long you may store an item in the Gloves of Storing.