Directory Monitor is an interesting tool for watching particular folders and telling you about files being created, changed or deleted there.
Launch the program and click Add to give it a folder - either local, or a network share - which you'd like to be monitored.
You can also indicate the events you're interested in ("New Files", "Modifications", "Deletions" or "Renames"), and may optionally choose to monitor subfolders.
And there's even an option to launch a particular application whenever an event occurs.
One issue we noticed immediately is that it didn't seem possible to monitor our entire system drive, for example by specifying C:\ and checking "Monitor events of sub directories as well". Directory Monitor accepts that, but then doesn't display events as they occur elsewhere on the drive.
If you're happy to specify other subfolders, though - C:\Users to track events in your User folder, for instance - the program works just fine, popping up balloon notifications to let you know what's happening, as well as saving events in a log which you can easily save for future reference.
The only other minor wrinkle is that we noticed some of the Directory Monitor options are greyed out and inaccessible in this version. You can make these available via a 14-day trial, or permanently by making a donation of $30 or more, though. Click File > Unlock within the program to find out more.