Is there a way to subscribe to IIs application pool events?

I need to track IIs (v6) events.

More specifically, application pool and website events. Are there any API or WMI tools to do this? This is not from the point of view of the application, but from the point of view of administration.

I am not interested in starting, stopping, or reworking programmatically. I am interested in condition monitoring. The poll is not very elegant, are there any events I can hook up?

From managed or unmanaged code, it doesn't matter.