Did you know about upstart? An event-based replacement for the normally used System-V init.
I just found it tonight. Looks really impressive and much more useful than the old way of doing things. Though it seems like I broke something after I installed it and rebooted my server. Now I can’t ssh into it anymore. Oops!
Update: Apparently I’m not the only one who has run into this problem when running upstart on an OpenVZ VE.