Sean2 makes fun of the sentence,
"I hurt myself." He goes on to quote Red Smith as saying, "Myself is the refuge of idiots taught early that 'me' is a dirty word."

What other way is there to say, "I hurt myself"? I can't believe that there is anyone anywhere who would say, "I hurt I," or, "I hurt me." What's left?

What is the subject? Jim and Me. Split it. Would you say, "Jim discussed the proposal...."? Sure, but would you say, "Me discussed ...."? Never. You have to use the subjective form since it's the subject. That means you have to use "I, not "me."

"It is I" is correct, grammatically correct, that is; however, I would never say that unless I were being waterboarded, and I think that most people feel the same way. I won't get into predicate nominatives, linking verbs, and all that stuff, but "It is I," though sounding stilted and pretentious to most of us, is correct, dammit!