Thread-based stdout/stderr pumper

#!/usr/bin/python
#
# Runner with stdout/stderr catcher
#
from sys import argv
from subprocess import Popen, PIPE
import os, io
from threading import Thread
import Queue
def __main__():
    if (len(argv) > 1) and (argv[-1] == "-sub-"):
        import time, sys
        print "Application runned!"
        time.sleep(2)
        print "Slept 2 second"
        time.sleep(1)
        print "Slept 1 additional second",
        time.sleep(2)
        sys.stderr.write("Stderr output after 5 seconds")
        print "Eol on stdin"
        sys.stderr.write("Eol on stderr\n")
        time.sleep(1)
        print "Wow, we have end of work!",
    else:
        os.environ["PYTHONUNBUFFERED"]="1"
        try:
            p = Popen( argv + ["-sub-"],
                       bufsize=0, # line-buffered
                       stdin=PIPE, stdout=PIPE, stderr=PIPE )
        except WindowsError, W:
            if W.winerror==193:
                p = Popen( argv + ["-sub-"],
                           shell=True, # Try to run via shell
                           bufsize=0, # line-buffered
                           stdin=PIPE, stdout=PIPE, stderr=PIPE )
            else:
                raise
        inp = Queue.Queue()
        sout = io.open(p.stdout.fileno(), 'rb', closefd=False)
        serr = io.open(p.stderr.fileno(), 'rb', closefd=False)
        def rOut():
            while True:
                part_line = sout.peek(io.DEFAULT_BUFFER_SIZE)
                if len(part_line)>0:
                    inp.put( ('stdout', sout.read(len(part_line)) ) )
                else:
                    return
        def rErr():
            while True:
                part_line = serr.peek(io.DEFAULT_BUFFER_SIZE)
                if len(part_line)>0:
                    inp.put( ('stderr', serr.read(len(part_line)) ) )
                else:
                    return
        thOut = Thread(target=rOut)
        thOut.setDaemon(True)
        thOut.start()
        thErr = Thread(target=rErr)
        thErr.setDaemon(True)
        thErr.start()

        while p.poll() is None:
            # App still working
            try:
                chan,line = inp.get(timeout = 1.0)
                if chan=='stdout':
                    print "STDOUT>>", line, "<?<"
                elif chan=='stderr':
                    print " ERROR==", line, "=?="
            except Queue.Empty:
                pass
        print "Finish"

if __name__ == '__main__':
    __main__()