Is there anything like
tail –f that also works well with binary files and supports exit conditions like "on pid X death" or so?
The original philosophy on Unix was to keep things simple. While its commercialization may have taken it away from that principle, I wouldn’t expect to find a single program that did file I/O and also monitored the health of other processes. The best way to get the exit conditions you want may be to write a shell script and wrap it around