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The actual computational work this app is going to be doing is rather small (waiting on IO). I would be more concerned about wasting memory leaving this running all the time.

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I remember seeing Ruby on Rails constantly burning something like 10% CPU even when it was ostensibly only waiting on the machine (though this might be an issue that has been fixed since, I am not particularly optimistic given the day and age), and anyhow, even in the RAM department, I only have 512MB to work with (of which most is in use most of the time anyway).

"most is in use most of the time"

I don't know how you measured that, but Linux will use all of your memory all of the time with various caches.

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