Called "Port Reporter" MS released a tool to log port activity on new generation OS platforms. It runs as a service in the background and logs access to ports and can profile usage.

Check it out here for the executable.

The Port Reporter tool logs TCP and UDP port activity. The tool is a small program that runs as a service on a computer that is running Windows Server 2003, Windows XP, or Windows 2000.

On Windows Server 2003 and on Windows XP-based computers, the service can log the following information:
The ports that are used
The processes that use the port
Whether a process is a service
The modules that a process loaded
The user accounts that run a process
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