KaKeeware Application Monitor is a very small API monitor that allows the user to monitor the APIs called by the given application. KAM supports 2378 different APIs as for now.
KAM works as an API spy that may help the developers and localization engineers to find the bugs in the release versions of the software. It can be also used by malware analysts to check which APIs are used by the sample they analyse.
Since v1.04, KAM can rerieve object names (filenames, registry keys) and shows them on UI instead of handles, making the listing more readable. 1.10 shows more information about monitored APIs. 1.20 added groups to APIs window and added support for command line for monitored program. 1.21 hopefully fixes the problem with some XP versions.