We have a table in mysql with what appears to be an indexing problem.  There are three daemons running and once per second run a query.  The query is 
   SELECT * FROM albumFile WHERE status='new' OR action IS NOT NULL LIMIT 1
The problem is that three queries per second are causing mysql to use nearly 100% CPU from a simple query on a table with only about 210K rows.

Create Table: CREATE TABLE `albumFile` (
  `albumId` int(10) unsigned NOT NULL default '0',
  `siteId` int(10) unsigned NOT NULL default '0',
  `fileId` int(10) unsigned NOT NULL default '0',
  `caption` varchar(255) default NULL,
  `fileOrder` int(11) NOT NULL default '0',
  `status` enum('new','processing','ready') default 'new',
  `action` varchar(255) default NULL,
  `updateTime` int(10) default NULL,
  `createDate` datetime default NULL,
  PRIMARY KEY  (`albumId`,`siteId`,`fileId`),
  KEY `siteId` (`siteId`),
  KEY `statusIdx` (`status`),
  KEY `actionIdx` (`action`)
) ENGINE=MyISAM DEFAULT CHARSET=latin1

The indexes are good.  Can anybody see anything that:
1) is wrong.
2) can be optimized.
3) indicates that I'm not crazy thinking this should be just fine?