I just created some code that will get the last spy from the database and show it on a page and refresh every second using a xmlhttprequest object so the page itself isn't reloaded.
This works pretty good, now what I have left to do is create plugins that will save new spy info into the database (for example, a new thread is being made, a new user is added, poll vote, etc)
then i'll need to create a neat vB Spy page with vbulletin layout
So I guess i'll have some beta code ready within a few days (maybe even tomorrow)
getting the last spy info from the database takes about 2-20 ms on my localhost (centrino laptop doing all kinds of things)
so quite possibly the server load will be low enough to use this hack on smaller boards
Because if a request takes 10 ms, you will need 100 users to look at the vbSpy page to make 1000ms = 1 sec = refresh time = server fully loaded.
if you have 1000 users online simultaniously and everyone likes this hack and 10% of the users looks at the page, you're ++++ed

anyhow should be great for smaller boards