Hi,
I have used Silicon Labs devices to isolate I2C (bidirectional in one device), worked great on my Bench PSU.
Might be worth checking them out.
http://www.silabs.com/Marcom%20Documents/Resources/Isolation-Selector-Guide.pdf
Ian.
Found something that I can get from my main distributor - the Si8441.
Ditched the optos, although they could have replaced two Si8441s. Couldn't be bothered to add a bunch of resistors.
As I
promised mentioned earlier... schematic (unfinished):