I was just looking into inotify to reload nginx and various other services on conf changes. I guess I'll go with Watchman so I don't have to write a series of shell scripts.
I considered guard (https://github.com/guard/guard) and Nodemon (https://github.com/remy/nodemon), but Watchman has less dependencies (doesn't require Ruby/Node).
There's also Supervisor (Python) (http://supervisord.org/), but I think that is more process management. I'm not sure if it can do file-watching as simply as Watchman.