My choice was to pick off the STROBE and BUSY signals on the parallel port. I hooked up the oscilloscope and it looked reasonable. Busy is used by the peripheral and STROBE is used by the host. Both are active low signals and to really show all the activity easily the signals needed to be OR'd together. I threw together a breadboard with a 74LS32 and a 74LS05 a few resistors and an LED as I had those in the parts bin.
Here is the first test, I'm pretty happy with the results.
https://youtu.be/omlV6ZCJmf0
Obviously, I'm NOT a YouTube star
If anyone is interested I'll refine and post the design.