You recall that Microsoft purchased Sysinternals back in July 2006. Microsoft recently published all the valuable Sysinternals tools on its Web site and this month it added a new one: Process Monitor.
Process Monitor (Procmon) "shows real-time file system, Registry and process/thread activity" with the added benefits of "non-destructive filtering, comprehensive event properties such session IDs and user names, reliable process information, full thread stacks with integrated symbol support for each operation, simultaneous logging to a file, and much more."
Microsoft says the capabilities will make Procmon "a core utility in your system troubleshooting and malware hunting toolkit."
You can learn more about Procmon at Microsoft's Technet Web site and see some screenshots too. Looks pretty good to me.