I like this idea as well, especially as a facebook app. Use the Facebook api to scrape together an initial group of events pertinent to an individual user and have them mold it from there.
Problem:
Right now when I want to know when something happens (new cd/movie release) i go to a reliable source and I know with some degree of certianty that that event will happen when they say it will. I give them some reasonable leeway since its still a future event with numerous opportunities to miss the date(later ship date, cancellation, etc.). However, when you tell someone an event just happened or is happening now, you better be 90% correct or the tool becomes an annoyance instead of useful.
If you haven't seen it already Microsoft (yes Microsoft)has a similiar scene completion technology and the demo is pretty cool: http://labs.live.com/photosynth/
Problem: Right now when I want to know when something happens (new cd/movie release) i go to a reliable source and I know with some degree of certianty that that event will happen when they say it will. I give them some reasonable leeway since its still a future event with numerous opportunities to miss the date(later ship date, cancellation, etc.). However, when you tell someone an event just happened or is happening now, you better be 90% correct or the tool becomes an annoyance instead of useful.