It would be great if Esri could implement the "Create Feature Class from XY Table" functionality from the ArcCatalog interface as a method directly available in ArcPy/Python for automation. I know that this can be done with the MakeXYEventLayer_management method in ArcPy, and I have worked with it all the time in ArcPy, but that is a bit klugey in terms of coding it because it is designed more so for working with layers in memory and the ArcMap interface (granted, it works even if not in the ArcMap interface). Then, to write the resulting data/layer to disk you have to go through another step (CopyFeatures_management method) and maybe then even remove data from memory if you are looping with numerous files. Furthermore, when working with very large files (1M+ records) *and* numerous files, the approach with MakeXYEventLayer_management craaaaaaaaaaawls and is no where near as fast as the Create Feature Class from XY Table approach on the interface. So, it would be great to offer another approach via an ArcPy method, based on something that already exists in the ArcGIS software, to: 1) simplify coding and 2) reduce the data processing times!