www.sysinternals.com has purchased Somarsoft's commerical utilities and are making some of them available as freeware on an asis basis. Currently available is utility DumpEvt which is a must have for NT administrators. With DumpEvt you can use the utility as a core piece in event log consolidation and management by moving the event logs to sql databases.

SomarSoft's DumpEvt is a Windows NT program to dump the event log in a format suitable for importing into a database. Similar to the DUMPEL utility in the NT resource kit, but without some of the limitations. DumpEvt has been updated to now allow dumping the new Windows 2000 event logs (DNS, File Replication, and Directory Service)

You can use either DumpEvt or Dumpel as the core of a scripting tool to monitor one or more event logs. You can extend this to any level of complexity. If you do not want to build a complex do-it-yourself tool, you can use Somarsoft's commercial utility, Event Log Monitor which

collects event log messages from Windows NT servers, stores these messages in a centralized ODBC database, and notifies you when important events occur. It's powerful filtering and notification engine helps simplify administration tasks.