I finally got around to hooking up my Ambient Email Notifier under Ubuntu. No idea why I waited so long, given it pretty much worked as soon as I plugged it in!
The Linux kernel has drivers for the CP2102 USB-to-RS232 chip built in, so as soon as it was plugged in it showed up as /dev/ttyUSB0.
The Python-Serial module is in the Ubuntu repositories, so after installing that, I just changed my checkinbox.py script to use /dev/ttyUSB0 instead of COM3 and added a cron job to check every 10 minutes.