yep, thats also possible. Thats how i setup my game.
You can use one command, name it e.g. "leftclick", set it as an combinable command . No cursor defined
Then when executing "leftclick" action on an item use "set item" action part to use the item.
Then on items/objects/chars use "execute command 'leftclick' with item XXX. to handle the dropping.
So its more it less configured like a classic scumm interface with a specific "drag"action.
As for the cursor changing you need a bit lua, which tracks if you have an active item. For this i have to put you on hold a bit... i can post my code this afternoon when im back home again.
This code will check at runtime if you are holding an item at the cursor and setting the cursor accordingly to it...