What are your arguments behind keeping it as an event?
it would be open to abuse is the main problem, scripts will get people handing things in 24/7, which devalues it for anyone that's doing it properly.
cub is a nice compensation for losing rolls and getting the 'lose' item. if it was always on then those items would always have some value as emblems - so people would be more likely to farm them. but it's a problem of balance, people would only farm the easy stuff to the point that the hard stuff would not be worth farming again. the max items limit is good for that cos people wont hoard something which isn't worth much just because it's easy.. that was the problem with gold farming through scrolls, it made a little gold, but was so easy that people scripted it 24/7, handing in hundreds of thousands of them. the item limit from house storage at least stops that.
i dunno, i like it how it is to a large extent. lets you plan long term and prepare passively, makes you feel less cheated when you get a shit roll or mod combo at high intensity on a drop, makes castles more desirable, etc
as it is, if people miss it and dont get very much, they can plan for the next one, then you're rewarding them for staying with the server long term, the more they play in that time, the more reward they get
it's an option tho that they could put perma cub on, and perma tots on. it would make for a big change to the server's market, but it would adjust. they are viable options, it's just whether they're the best options or not. Ltots make nice filler drops at the moment