No, he is talking about v3. I just checked it out on my v3, and it works just fine.
As he said...
Select the book icon.
Select "Present."
Select "Item."
Choose which item you'd like to delete.
A screen comes up saying, "Wrap?" Instead of pressing the MIDDLE button, press the LEFT button, and a screen will come up saying, "Trash?" NOW press the middle button to confirm, and it will delete your item.
Basically, just a restatement of what Tarakotchi said