Going forward, INotifyPropertyChanged is the norm, and has much better support in WPF. I seem to recall that BindingList<T> only respects INotifyPropertyChanged (see HookPropertyChanged and UnhookPropertyChanged in reflector).
This is also more efficient, as the UI only needs one event hook, rather than one per event - and your class can be more efficient as it only needs a field for one handler (rather than either one per property, or the niggle of having to go via EventHandlerList and a set of static keys)
The old style is mainly a hangover.