And just so you know a once created a character that used a system similar to this, so it does work, I tried it !
I really really like using events and since I can't script at all it's what I use to do most things. As a result I've gotten pretty good with them, there are tons of system I can create with events, like upgrade systems, bank systems, lockpickin systems etc.
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Best LPer ever, Gix ! : http://www.youtube.com/watch?v=Vt5YKmP7ecY