NetLimiter Monitor is a simple tool that allows you to monitor applications that have open Internet connections. I tested version 2.0.10. The Explorer-like interface shows all applications together with their processes. The transfer rates are displayed for each application's process, separately.
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This can be useful if a program launches other apps. In such cases, you often don’t really know which application actually connects to the Internet. A typical example is the notorious svchost.exe. NetLimiter Monitor displays the PID of each process which you can use to track down the real culprit with Process Explorer or Process Monitor.
If an application connects to multiple IPs, NetLimiter Monitor displays each of them and the amount of data transferred in both directions. It is interesting to see how many different hosts can be contacted once you open a common web page. If you monitor your web browser with NetLimiter while opening 4sysops.com, you will see that more than 20 hosts have assembled a web page.
There is a Lite ($16.95) and a Pro ($29.95) version of NetLimiter which allow you set download or upload transfer rate limits for applications, connections or groups of them.