Executable processes controls text parser

Hello,

I need an application who can parse all controls text from an executable process and save them as xml.
The provided application should be similar to Spy++, Winspector, etc and should have the following capabilities:
-Compatible with Win XP and Win7 32bit
-max .net 2.0 if .net is used
-it should not interfere with active windows (like active windows lose focus because our app is doing something). Just passive parsing.
-can be started with the following arguments :
* run hidden, on/off (default on)
* parse by process executable
* parse by partial process name
* interval time for parsing in seconds( 60, 120, 6000 etc)
* save as xml (the text values should be between something like <parsedtext>value</parsedtext>. Maybe you have a better approach how the xml should look for a good interpretation)
* verbose with log parameter where the application logs what is doing to a file and in case an error raise, to read what happened.

I will need also the source code so i can build the application after the code inspection.