I think that the best discussion of this issue can be found at Separate new Move Line Up/Down logic from Smart Lists setting . There I have also posted workarounds that work for me at the moment and are more practical than those proposed above.
However, it seems that we have some diverging requirements, as I also take issue with the new functionality of auto-indenting or moving child items. Therefore I opened a related FR: Separate commands for moving/indenting a single list item vs. all of it's children.