I see what you mean, but the reason as to why I have done it this way is to perfect a previous protection script I had used in mIRC DeluXe. I continuously had problems with it, and even after the public release, the protection system was still buggy. The mIRC DeluXe protection script would often cause users to disconnect due to excess floods, or in some cases a event that would normally trigger the script, wouldn't. There were also a few weaknesses exploited in it by pesky script kiddies. It was done this way to prevent exploitation and disconnection due to excess flood as much as possible.
On that note, I appreciate your advice, and I will look into using the $event identifier if this script has any major problems. So far, so good.