Do you want the process to be client- or server-driven? In other words, do you want to push new data to the clients as soon as it's available, or would you rather that the clients request new data whenever they see fit, even though that might not be once/second? What is the likelyhood that the client will be able to stick around to wait for an answer? Even though you expect the events to occur once/second, how long does it take between a request from a client and the return from the server? If it's longer than a second, I'd expect you to lean towards pushing the events to the clients, though the other way around, I'd expect polling to be okay. If the response takes longer than the interval, then you're essentially streaming anyway, since there's a new event ready by the time the client receives the last one, so the client could essentially poll continually and always receive events - in this case, streaming the data would actually be more lightweight, since you're removing the connection/negotiation overhead from the process.
I would suspect that server load to be higher for a client-based (pull) subscription, instead of a streaming configuration, since the client would have to re-negotiate the connection each time, instead of leaving a connection open, but each open connection in a streaming model would require server resources as well. It depends on what the trade-off is between how aggressive your negotiation process is vs. how much memory/processing is required for each open connection. I'm no expert, though, so there may be other factors.
UPDATE: This guy talks about the trade-offs between long-polling and streaming, and he seems to say that with HTTP/1.1, the connection re-negotiation process is trivial, so that's not as much of an issue.