Two. The one in the states is a recent venture started by Courier. The European senior tour has been around for several years now. Some players like Ferreira, McEnroe, and Cash play both circuits. Bruguera played one of Courier's events as a last-minute fill-in for an injured player, was more of a favor though I believe. Mostly, the retired players who live in Europe play in Europe, and the guys who live in the states now or are American will play the Courier circuit.
The European circuit is more meaningful, however, as they have the one true semi-marque event in seniors tennis. In other words, they have a year-ending masters tournament for all the marbles in which only the top ranking competitors after a calendar year are allowed to enter. The event is held at Royal Albert Hall in Great Britain, and its considered one of the most beautiful venues for tennis in all the world, and all the players really love it, many have said it's one of the most beautiful places to play tennis they've ever played, including McEnroe and Becker.
...as far as Bruguera chipping forehand returns, yup, he still does that. The biggest difference from his tour days is that he mixes it up A LOT more in the seniors matches I've seen him in. In his second senior event back, he drop shotted and drop volleyed Courier to death in a clay final. He literally toyed with him with almost nothing but drop shots and drop volley/dink type shots, he played a lot like Santoro in this match...and it was really messing with Courier's head. Courier kept on looking like he wanted Bruguera to just engage him like a man and go toe to toe more like how they used to play each other on tour, he didn't really expect this style of play from Bruguera in this match at all and looked totally unprepared and baffled.
Bruguera plays much more loose and relaxed now. On tour, he would either go into a ball bashing mode or a just try to keep it in play until the other guy misses mode, one or the other...yet, he'd sprinkle in the occasional drop volley here and there too. He was known to have soft hands by McEnroe himself during his playing days, but he did not use them all that often in actual matches.
Now, he does...and quite often. Basically, because he's not as serious anymore, you'll see him play A LOT more trick/dink/finesse shots than he did on tour. Courier, on the other hand, basically still plays the same style. Courier commented on this on air in the event Bruguera played for him, he said that Bruguera's very tricky to play now because he plays with a lot more touch now.
This said, I haven't seen him playing during his recent hot streak and alleged return to form. The Bruguera in the seniors matches I have seen though played about as differently as I have seen from any seniors tour player. He's even modified his backhand technique now. He no longer has that unique cocked wrist, box beam, take back preparation on his two-hander...which I think is extremely unfortunate, as it was to me the most unique preparation on a two-hander I've ever seen and the nicest looking. Now, his two-hander looks pretty much just like everyone else's--GENERIC...*yuck*...with the straight, simple take back, and follow-through. He'll only very occasionally go to the regal, box-beam, take back now.
As far as pace goes, he uses a more powerful racket than he did in his playing days, but I actually think he also does not swing as violently as he did in his touring days (remember Bud Collins saying, "he keeps on looking like he's going to hit his head with one of those swings"). He seems to have a more relaxed swing now, and doesn't look to pull the trigger as often at the end of a long rally now.
In his touring days, his basic strategy was to wear you out and hope you made an error, but if you didn't after a few shots, he'd look to just pummel the ball on an all or nothing forehand at some point.
Now, he'll just string you along for several shots just being consistent hoping you'll miss first, but the big difference is that instead of looking to setup an all-or-nothing power groundie...he seems to prefer just as much OR MORE going for the McEnroe-esque, all-or-nothing, shoe string finesse shot.