Although this is an old question I stumbled upon, I just wanted to back @ControlFlow's assessment of the 'dualism' between IObservable and IEnumerable as a 'Pushed based' vs 'Pull based' collection with a link to Erik Meijer's 'Rx in 15 Minutes', where he can be quoted as saying exactly that. http://channel9.msdn.com/posts/Charles/Erik-Meijer-Rx-in-15-Minutes/
Consequently, this pushed-based collection can fundamentally shift the basic paradigm of 'a mundane series of called events' into an asynchronous, selectable, query-able, passable and subscribe-able first-class collection of declarative actionable. Something that does that belongs in the core BCL namespace or perhaps deserves it's own, but is too far beyond Yet-Another-Collection to share its namespace. Mind you, that's just my opinion.