Does one have to "use magic device" in order to operate the light spell or any other spell like ability from a wayfinder? Sorry about the basic question I just can't seem to make sense if emulating a class feature (or the like) is required and thus the use magic device skill. Thanks in advance!
You only need the Use Magic Device skill if the item has a requirement you do not meet. Anyone who picks up a wayfinder and identifies, or is told, its properties can activate it.
Thinking about it, you could employ the "Activate blindly" usage if you don't know what the item does or the command word to operate it. However you'd usually get this information either when you buy the item or use Spellcraft successfully to identify it.