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This is the kind of code we need, Windows permitting:

import time, signal

def alarmed(*args):
   raise ValueError, 'alarmed!'

signal.signal(signal.SIGALRM, alarmed)

signal.alarm(5)

try:
    while 1:
      time.sleep(1)
      print 'boo'
      pass
except ValueError, message:
   print 'exiting', message