The code already exists and will be out soon in cvs.
http://www.eqemulator.net/forums/viewtopic.php?t=12773
Not only does it replace flags, but it allows for actual values to be passed and not just a true/false boolean values. It also has the advantage of setting the scope of availability to determine which NPCs get it, what zone and what players. Finally, it lets you set the amount of time the variable is available, after which it goes POOF.
I am surprised that this hasn't generated more excitement. The possibilities it opens up are incredible.
You can now make sure all 4 warders are dead in sleeper before spawning the sleeper. Want to know by whom and when sleeper was killed? Write a global variable.
Wandering mobs? This makes it possible for them to know where each other are (variable written at event waypoint). Want a mob to behave a certain way, even in another zone, based on what was done with another npc?
Then there are the adventures... you have 30 minutes to start. Guess what? Set the variable to a 30 min duration and if it isn't there they missed the window of opportunity....
And I am working on a little addition which will make it possible, among many other things, for mobs to have a conversation among themselves.