I'm gonna give my commentary on the elite items so far:
Keg of Health: Great! (Especially for priests)
Keg of Mana: Even better! In fact I made it my usual cater prep!
Wicked Guitar: I'd always use it mid to late game pretty much!
Alchemist's scroll: Okay, never really used it.
Dwarven Gauntlets: Uhh... Shouldn't it be 2 max hp per level? I did pay 35 gold.
Elven Boots: Great!
Amulet of Yendor: Hmmm... Haven't used it much, but I guess it's okay. Not really sure when to use it.
Orb of Zot: Okay for resistance charcters and casters who find the boss early or if you have extra regen late game, it would be a much better item if you could Scout: Boss.
I suppose you removed terror slice, magicians moonstrike, and berserker blade because they were either too powerful or useless depending on what you were. Here's an idea for them:
Terror slice: -1 hp and 10% damage boost upon leveling.
Magician's Moonstrike: Damage bonus -50% and add 5 max mana
Berserker Blade: -5 max mana and Damage bonus +50%
I dunno, most of my ideas are usually imbalanced and abusable so I'd like feedback to fine tune them.