The situation:
I have a python script to connect/send signals to serial connected arduino's. I wanted to know the best way to implement a web server, so that i can query the status of the arduinos. I want that both the "web server" part and serial connection runs on the same script. Is it possible, or do i have to break it into a daemon and a server part?
Thanks, any comments are the most welcomed.
Have WAMP server. It is the easiest and quickest way. The web server will support php, python , http etc. 
If you are using Linux , the easiest tool for serial communication is php. 
But in windows php cannot read data from serial communication. Hence use python / perl etc. 
Thanks
python daemon + interprocess communication + web server