I have studyed the source of libevent version 0.1. The source is so simple, but you can know what the author want to do. As a matter of fact, I found that you can adopt the idea of the event principle of the libevent. If you are not going to develop a high performance server like nginx, lighttpd, and so on, the technique is enough to you. You also can understand the event loop in the nginx, lighttpd ...
The libevent grows more power. However, some technique added is unuseful to me now.