> 1) How should I solve this problem? I'm an experienced Java programmer
> but new to Python, so my solution looks very Java-like (hence the use of
> the threading module). Any advice on the right way to approach the
> problem in Python would be useful.

In the past, I have used the select module to manage asynchronous IO operations.

I pass the select.select function a list of file-like objects, and it
returns a list of file-like objects which are ready for reading and
writing.

http://python.org/doc/2.2/lib/module-select.html
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