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Well, that depends.  If you are not familiar with Event, the quick
and dirty answer is C<loop> will BLOCK and C<sweep> no.

C<loop> will be keeping calling the callback functions whenever they are
ready and will just return when a callback calls for C<unloop> or a timeout
happens.

On the other hand, if you are not using Event for anything else in your program,
this might not be a desired situation.
C<sweep> can be called them to check if some event has happened or not.
If it has it will execute all the pending callbacks and then return (as opposed
from C<loop>). So, long loops might be a good place to use it.

=head1 IMPLEMENTATION

Event::File::tail is a fake watcher in the Event point of view.  On the other hand, it
does use two helper watchers for each Event::File::tail, a read io and a timer watchers.
In case you are debugging and need to findout about them, every tail watcher has an unique
id during the program execution (use C<$watcher->id) to retrive it).  Each helper watcher
does have the id number on its description (desc).