Unfortunately, no. The problem is that you can't link to one folder for music, and another for Events. Scripted events have to be in the "Events" sub-folder of the folder linked to, or they won't play. I too wish they had setup a system like that. It would make things easier, and smaller.
But they didn't, so we're stuck.
Now of course, you can link multiple stations to one folder, as I did originally for my AFRS stations. But then you run into the problem of hearing programs you've already heard all over again when you switch stations. That's why I included a single high powered station info in the AFRS Add-on.