I tried out ClosetGnome, as part of my usual habit of finding the Ace equivalent of everything, but it doesn't seem quite as fully featured. Most specifically, it doesn't seem to allow you drag out individual item slots on your screen to make drop-down menus. And customizable events would be nice as well.
Itemrack is on my list of approved Non-Ace mods because it is so needed, and the Ace equivalents are crap. Itemrack continues to work for me, so I use it simply because I know it and have used it for such a long time, it would take me a while to get used to a new mod. If you are dead set on a replacement for Itemrack, and don't want to use ClosetGnome, Outfitter might be for you.