Logging is a boring topic. It doesn't have the glitz and glamour of topics such as network intrusion detection, portscanning, or firewalling. It is, however, one of the only means for your computer to communicate with you. The syslog daemon serves as a central logging server, allowing processes to send their logs to a single location and place related types of information in the same file. Syslog can even be configured to accept incoming logs from all the computers on your network and allow you to monitor all your network logs from a single station. To help "liven up" monitoring logs, software such as Psionic's LogSentry can be installed to keep track of unusual and potentially problematic alerts as they occur.
No matter how an administrator approaches the task of logging, nor how mind numbing the topic of logging may seem, it is a critical part of maintaining a secure and healthy system.