Event Notifications and Extended Events are completely different animals in SQL Server. Extended Events are new in 2008 while Event Notifications exist in 2005, and the eventing for the two is very different. If you'd like more information on Extended Events, you can read my whitepaper on MSDN,

Using SQL Server 2008 Extended Events

as well as Paul Randal's article on Technet:

Advanced Troubleshooting with Extended Events

If you'd like some other references I have a tag on my blog for Extended Events posts I write:

http://sqlblog.com/blogs/jonathan_kehayias/archive/tags/Extended+Events/default.aspx

and so does Paul:

http://www.sqlskills.com/BLOGS/PAUL/category/Extended-Events.aspx