I am in great need of this, if someone knows how to do it, kindly contact me.
Have you tried using SNMP?
Set it up, then browse through the hrSWRunEntry MIB (1.3.6.1.2.1.25.4.2.1) then you'll get some application monitoring.
Windows XP uses the same codebase as Windows Server 2003, which SAM easily monitors today.
