Listen for directory events

[Bell, Kevin]

Anyone have any advice on listening for directory events?  

I'd like to fire off my script if new files are added to a directory.
Right now, I've set up my script as a scheduled task (Windows XP) and
when the script is run periodically, it initially looks for new files
and does it's magic if there are some.  I assume I could have python
check for new files then sleep for a bit, and check again.  If I did it
that way, would I run into problems running other py scripts while the
first one was active?  I read about processes being protected from each
other, but didn't really grok it in fullness.

Kev