Read system_health event_file instead of ring_buffer for deadlocks extended events

I'm currently using this disaster to locate recent deadlocks by reading the system_health Extended Events ring buffer.

select top 2000000000
      XEvent.value('@timestamp', 'datetime2(3)') as CreationDateUtc,
      --
      -- Extract the ... tag from within the event
      -- Todo: Surely there is a better (xml) way to do this.
      --
      substring(convert(varchar(max), XEvent.query('.')), 
          -- start
          patindex('%'
          ) AS XdlFile
 from 
    (
      select cast (target_data as xml) as TargetData
        from sys.dm_xe_session_targets st with (nolock)
        join sys.dm_xe_sessions s with (nolock)
          on s.address = st.event_session_address
       where [name] = 'system_health'
         and st.target_name = N'ring_buffer'
    ) as Data
 cross apply TargetData.nodes('RingBufferTarget/event[@name="xml_deadlock_report"]') AS XEventData (XEvent)
 order by CreationDateUtc desc

It works fine however the events don't seem to hang around very long (like 24 hours?) I guess this is the "ring buffer" part of it. Now I stumbled onto a link that was reading the system_health "file" which has similar information:

select event_data = CONVERT(XML, event_data) 
from sys.fn_xe_file_target_read_file(N'system_health*.xel', NULL, NULL, NULL)
where event_data like '%xml_deadlock%'

Is this file the same as the ring buffer but just stays around longer? Any disadvantages to using a file? Does anyone with some XML skills want to convert the top script?

The goal is to copy/paste the XdlFile field into a new file and read it directly into SSMS or Sql Sentry Plan Explorer using "File Open".

Ring Buffer Links:

https://connect.microsoft.com/SQLServer/feedback/details/754115/xevents-system-health-does-not-catch-all-deadlocks#tabs

https://www.sqlskills.com/blogs/jonathan/why-i-hate-the-ring_buffer-target-in-extended-events/

http://www.sqlskills.com/blogs/jonathan/multi-victim-deadlocks/

https://www.sqlskills.com/blogs/jonathan/g

This seems to work:

with XmlDeadlockReports as
(
  select convert(xml, event_data) as EventData
   from sys.fn_xe_file_target_read_file(N'system_health*.xel', NULL, NULL, NULL)
  where object_name = 'xml_deadlock_report'
) 
select EventData.value('(event/@timestamp)[1]', 'datetime2(7)') as TimeStamp,
       EventData.query('event/data/value/deadlock') as XdlFile
  from XmlDeadlockReports
 order by TimeStamp desc

StackExchange Database Administrators Q#166773, answer score: 8