Definitely worth the price, and good find coffeegrinder! 
There's a great review here: http://www.ghacks.net/2010/12/05/winpatrol-monitor-programs-critical-items/
It really offers many great features - which are an excellent second line of defense, informing you if anything got by your antivirus.
It monitors:
- New auto startup programs
- New browser add-on’s like Toolbars or Browser Helper Objects (BHO)
- New Windows Services
- Creation of scheduled tasks on the system
- Changes to file type associations
- New registered ActiveX components
- Changes to the Windows Hosts file
- Changes to the Internet Explorer home and search pages
- Automatic Updating and Windows UAC changes
- Date and Time that programs are created on the system
