1) Is the File Polling Service Activity the best option to Poll a directory for the existence of a new file?
Yes, you can use the File Polling Service Activity
2) Is it possible to have the polling activity abort the remainder of the flow activities if a file does not exist? This will be a requirement as the first step in the flow is to truncate the existing data from the DATABASE table. If there is no file then we do not want to truncate the data that is currently in the table. If so what type of activity would handle this YES/NO –ABORT/PROCEED logic?
Yes, it is possible to bypass the rest of the activity in case the file polling is timed out .For this you have to use a Gateway ( Decision Box ) with the default flow towards the process and directional flow towards the end.
3) If a file does exist and the process flow is executed successfully what activity do I create to move the file that was just processed into an archive folder.
For this activity to occur a custom plug-in is required