Every now and then I stumble across something and say "I know I knew this before!" In Profiler, the Audit Login event includes regular logins and connection pooling reuse. If you run a trace and see a large number of logins you'll need to include the EventSubClass column to determine if they are pooled connections.
Even more misleading is PerfMon. If you capture the SQLServer:General Statistics - Logins/sec counter you'll see regular logins and connection pooling reuse. I haven't found a way to have PerfMon just show me "real" logins and not connection pooling events. I've started watching User Connections and Logouts/sec to see how many logins are really happening. Logouts/sec doesn't report anything related to connection pooling.
On SQLTeam.com I have roughly twenty logins per second but under one logout per second while the number of connections is stable. That tells me I really have one "real" login per second and nineteen connection pooling reuse events per second.