The spinning of polymeric fibers, the processing of numerous foodstuffs and the peel & tack characteristics of adhesives is associated with the formation, stability and, ultimately, the longevity of thin fluid 'strands'. This tendency to form strands is usually described in terms of the tackiness of the fluid or by heuristic concepts such as 'stringiness' [Lakrout et al., J. Adhesion 69, 307 (1999)]. The dynamics of such processes are complicated due to spatially and temporally non-homogeneous growth of extensional stresses, the action of capillary forces and the evaporation of volatile solvents. We describe the development and application of a simple instrument referred to as a microfilament rheometer (MFR) that can be used to readily differentiate between the dynamical response of different pressure-sensitive adhesive fluid formulations. The device relies on a quantitative observation of the rate of extensional thinning or 'necking' of a thin viscous or viscoelastic fluid filament in which the solvent is free to evaporate across the free surface. This high-resolution measurement of the radial profile provides a direct indication of the ultimate time to break-up of the fluid filament. This critical time is a sensitive function of the rheological properties of the fluid and the mass transfer characteristics of the solvent, and can be conveniently reported in terms of a new dimensionless quantity we refer to as a Processability parameter P. We demonstrate the usefulness of this technique by presenting our results in the form of a case study in which we measure the visco-elasto-capillary thinning of slender liquid filaments for a number of different commercial polymer/solvent formulations and relate this to the reported processing performance of the materials. We also compare the MFR observations with the prediction of a simple 1D theory derived from the governing equations that model the capillary thinning of an adhesive filament.