Lunch hours were the first casualty of Tom O'Malley's ambition. He sacrificed his afternoon breaks sometime last November as he pushed ahead with plans for the inaugural American Cinematic Experience Film Festival. His living room went next, overtaken by piles of paperwork and plastic tubs stuffed with DVD submissions for the event. Then his bank account took a hit. Such is the price of starting a film festival in New York. While hundreds of new independent festivals commence every year around the United States--some as economic boons for their communities, others as the equivalent of art-house substitutes in small markets--New York is saturated, with niche events often carved inside other niches. S.T. Vanairsdale reports.