ProcessMonitor is not a tool to replace ProcessExplorer.
it is a merge of filemon and regmon with many new features.

Filters are much more powerfull, you can save and restore them. They are not destructive in the way that if you apply a filter, some lines are hidden but if you unapply the filter, the lines reappear.

The summaries are very interesting to see which files or registry keys are often read or write.

I am not an expert but this tool will be very useful to analyze problems with applications !!!
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Christophe