3.5 appears to have changed focus from:
"What did the spell / magic item in 1E / 2E do and how do we make it work in a similar manner to all other items in 3E, but with a similar level of power or effect to earlier versions?"
to:
"How do we make every similar effect equal in power or effect in 3.5?"
The focus totally changed.
For example, the 1E / 2E Elvencloak resulted in near invisibility (95+% or 50% in lit areas) to the 3E Cloak of Elvenkind (+10 to Hide skill). It was basically nerfed, but still useful to make someone nearly invisible in dark places. When it went to 3.5, it became +5 to Hide skill. This is so far removed from the original Elvencloak that as a player in 1E / 2E, an Elvencloak was a really desirable item. In 3E, it was a nice to have item. In 3.5, it is a not worth my time item.
It went from being invisibility type magic to a slight bonus to a skill.
Ditto for a Ring of Jumping / Jump spell. In 1E / 2E, it was the ability to jump considerable distances. This got nerfed in 3E to fair distances, but still useful. It got nerfed again in 3.5 to match their concept of +5 to skill items. Again, the original 1E / 2E intent of the item / spell was totally ignored in 3.5 for this sense of continuity across the board.
In their quest for continuity, they lost sight of their origins. IMO.
And because of things like this, I am really on the fence as to whether my group should convert from 3E to 3.5. They improved a lot of game elements, but at a sacrifice of some fairly basic common themes from the old days. The 3.5 game feels just a little too "politically correct" or "vanilla flavor", at least to me. If a 3E game element had a high utility, nerf it.