Well, I am not too sure about the Paypal Buy now button but I think after a successful transaction it would call your page. I think you may need to verify the referrer just to be safe. You should be able to read the post variables and do what's necessary thereon. Here is some information that may help: https://developer.paypal.com/webapps/...
Btw I feel that using the Paypal API will give you much better control and I also think it could be easier to deal with. Cheers