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eXile
I'm pretty sure Windows 2000 has a 'cron'-type of facility (scheduled task, or whatever it is called), to have the OS call your script periodically. With a little modification you could have your script do the probing and terminate within 60 seconds, and have the OS startup an new script every 60 seconds.
<p>
From your last description it sounds like you run your stuff from a terminal window. It should also be possible to run it as a service/in the background so it is not dependant on somebody/something terminating your terminal window. This doesn't exclude something/somebody terminating your script itself ofcourse.
<p>
Also, for network performance/failure type of measurements there are some excellent pieces of software available (written in perl):
<ul>
<li>[http://people.ee.ethz.ch/~oetiker/webtools/smokeping/|SmokePing]
<li>[http://www.nagios.org|Nagios]
<ul>
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