Event notification

I am currently creating a simple module to notify me about upcoming events.
I would however like some feedback to whether I should make it really small and simple, or if I should enable a lot of settings and options.

The two "competing" ideas are:
1) Minimal module.
- Will notify the owner of each and every event.
- Will notify _only_ the owner of the event (node), and _only_ via email (from the users table).
- Will notify him 00:00 the day of the event, and then again one hour before the event.

2) Configurable module
- Different settings for each event.
- Can notify anyone
- Users can "subscribe" for notifications
- Multiple ways to be notified (email, sms, pager... whatever your server can send)
- Users can be notified at custom times.

The main advantage with 1) is that it is really simple to add, and requires no additional database tables or configuration.
Just enable the module, and it will start notifying people at next cron run.
The advantage of 2) is that it is much more flexible for bigger sites.

Ofcourse, with 1), there is no problem for an advanced user to use procmail or other filtering of their mail to resend the emails to whoever needs them, and at the times they want, or even forward them to SMS services and such.

Personaly I only need 1), but if there is a huge demand for 2) (which it probably isn't, as no one has made such a module yet...), I don't want to add a module that nobody needs, just to get a lot of flaming because you all need something more advanced.