No, the script wouldn't need to do anything while it is waiting for an update to the log file. My only concern is if the script performs an action based on an update to the log, but the action is still being executed while the next update occurs. Will the File::Tail execute multiple instances of the parsing conditions if updates occur too frequently? So if two updates occur at almost the same exact time, but it takes ~100ms for the execution of the parsing code and other actions, will that cause a problem?
The File::Tail does seem ideal IF it can handle fast updates.