So I've finally come across this little nifty tool and enjoying it, what it does in a 1000km view is to probably the same as init scripts and daemonize your programs.
Supervisord also gives you the ability to control your programs on the web, O.M.G, it also allows you to tail the logs on a browser! Tip: redirect_stderr=true
It's very easy to install, I recommend to install via apt-get if you are on ubuntu so you don't need to do extra work.
Check it out!