I don't think you have to be that much into the news. My view is you just need be to be aware of it. Mainly I am talking about big news events and possible moderates. I don't trade that close to Non Farm Payroll. If I do trade that day it would be after the dust settles. It really depends on the trader. The BoJ can be pretty unpredictable. During this writing BoJ release its interest rate decision. There was no rate change but I am sure the banks used it as an excuse to run stops on both side of the market within a 45 min period. Well at least its my take on it.
On second thought... I remember seeing your posts on Clark's thread. If you interested automated trading with EAs then maybe you need to be more intimate with the news. All I know is the free feeds are too slow to react from to big news releases. I just use it to help anticipate high volatility times to factor into my trade plan.
BTW.. I looked at the link. It seem to OK for news. I actually like the pdf they have of the monthly calendar so I bookmarked it for future calendars. Thanks.
forexpros (as already indicated) and Dukascopy's site
there's a lot of overlap but once in a while one has an extra entry that the other doesn't, so between those two you'd cover 99.999% of events.
i do notice that sometimes, the forexpros time info isn't dead-on accurate. (lately) the bloomberg consumer confidence is listed as happening at 9:50am EST, but it actually gets released at 9:45am EST (you can go right to bloomberg's page via forexpros' link to verify).
i trade 'live' and using small timeframes (down to 3min bars), so a 5min discrepancy makes a significant difference.
also, half of the time, the news has zero impact on the rate. the other half of the time, it's in the opposite direction you expected. the another half of the time, it's in the 'correct' direction. and the last half of the time it futzes around and thrashes violently but doesn't actually go anywhere.