There are tons of event managers and when I started testing this one, I was first slightly shocked by the number of options, but they are filled with usable default option, almost no tweaking necessary, works out of the box. And all options are well grouped and easy to understand.
Creating new events is very simple and straight forward, almost like blogging... and you can optionally use more features.
The ticket feature for example not required and it is possible to use "ticketing" only for recording and limiting the number of users without any costs, e.g. for just organizing club meetings or trips.
All in all, I really like it.
(OLD) Why not 5 stars: currently I'm in testing mode for the new site and still need to get more experience... what is not so nice currently is the very incomplete translation to German. It's really a clutter of English/German term, which is "a bit ugly", but not a really big issue.
Updated: now changing to 5 starts: translation was updated a few times, so fully available in Germany. A few bugs, some of which I reported, were fixed within a quite short time. As I use this plugin very extensively I can change my rating from 4 to 5. :-)