Well the decision is pretty much made for you by mIRC. mIRC will only process the first matching event in each script file, so you don't have much choice but to use if's. That is unless each of the text events you're using have different criteria that can be specified in the even definition itself - ie. the userlevel, matchtext, and location parameters (on [color:red]userlevel:text:matchtext:location:{ ... }[/color]) in which case that'll be the fastest way to go.
