SEMonitor 2.1 - Tracking SE rankings
 

What're the implications to using such a program? Is it like Web Position Gold where the search engine would supposedly "ban" you for automated query usage?

good question,although with so many queries major SEs receive i doubt they would notice something like that

I was thinking the same too, accordingly, I think the other thing was that competitors could repeatedly query other competitors' sites in a attempt to ban them.

I'm guessing the rumor to Web Position Gold is long gone now.