yeah. more than 1000 characters. write a function containing your bonus script. call it on your item. won't take you 1000 characters.
function script F_MyItemBonus {
// all your 1000+ lines of bonus.
}
/**
* and on your item
**/
99999,My_Item,My Item,2,2,,10,,,,,0xFFFFFFFF,7,2,,,,,,{ callfunc "F_MyItemBonus"; },{},{}
I don't see any reason why you can't just use this.