A: 

Solved it, thanks to Sir Eumir hehe :D

function event_form_alter($form_id, &$form) {
    $node = isset($form['#node']) ? $form['#node'] : NULL;

    $form['venue'] = array(
        '#type' => 'textfield',
        '#title' => t('Venue'),
        '#default_value' => $node->venue
    );
    if (($form_id == "event_node_form") && isset($form['title']['#title'])) {
        // Change title to Name
        $form['title']['#title'] = t('Name');
        $form['body']['#body'] = t('Description');
    }
}
marknt15
+1  A: 

You can change the title and body labels from the admin interface.

Go to yoursite.com/admin/content/types/event

Heather Gaye
A: 

You can also use auto nodetitles to get rid of the title field altogether if that fits your use case: http://drupal.org/project/auto_nodetitle

Mike Crittenden

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