very handy and very good idea,
but why a method call for each single line?
I would be extremely happy, if a method would be called which handles multiple lines at once instead of the current line handler. This way it would be optimized for huuuuge and frequently updated files.
Excellent module! If you need some kind of "tail -f" in your program, this is what you want. Being able to use non-blocking selects on many files (or in my case, building a tailing server) is extra nice.
The documentation could use a little more work for the methods, which parameters they take, examples etc.
The module appears to work just fine under Win32 despite the failing tests (I suspect DOS/Unix line feed problems).