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The Monthly Million is the site's best event.
On August 28th at 2:35pm ET, Party Poker will be hosting a qualifier to their Monthly Million tournament (a tournament with a $1,000,000 guarantee). The Monthly Million Qualifier has a buy-in of $172 which includes the site fee and they guarantee 3 extra seats to the target event which takes place on September 6th.
The target event is a can't miss event for online poker players due to the size of the prize pool. That, and the fact that from this qualifier 1 in every 4 players will make the target event helps make this satellite a "can't miss" as well. That is a really good ratio and should also help make this a tournament that does not take a great deal of time to complete.
You'll need an account with Party Poker to play in this tournament and check out their homepage for information on deposit bonuses.