Potential problems with event log?

[Hoodak, Anthony J.]

Greetings -
 
Over the weekend, we seem to be experiencing some problems related to the
event log. The Basis admin just stopped by and said that he has a number of
errors that were raised, and the errors would appear (at least on the
surface) to be linked back to the event log. The transaction he showed me is
SM58. A typical entry in this log points to SWE_EVENT_LOG_WRITE and the
status text (in red) says "System busy".
 
Has any one out there experienced a similar problem and equally as
important, what should I be look at to determine the root of the problem? Is
this a problem with the event log filling up? If so, how do I purge the log?
Our event log has only been turned on for a week or so, so I am leaning in
this direction (unless someone advises me otherwise).
 
Thanks,
 
Tony