If you finish the thought: "It is I (who is here)" it sounds better to the ear. The only reason the ear doesn't always like hearing proper English is because we are very careless in our speaking habits--TV pundits are perpetuating poor grammar and usage.

Here is how I get around fracturing English usage in this particular case. Instead of saying, "It is I," which may be off-putting to some, I say, "It's Kathy." Problem solved.