Centralized logging can be a Really Good thing and something that I think every SA should consider if they have more than 1 system to look after. Unfortunately Apple's documentation on the subject is only correct for the client side, however:
"To configure Mac OS X Server as a log server that accepts log messages from other
systems on the network:
1 Open /etc/rc and locate the following line:
/usr/sbin/syslogd -s -m 0"
...
Everyone knows that /etc/rc has been retired in 10.5. The correct procedure is much simpler - just open /System/Library/LaunchDaemons/com.apple.syslogd.plist and look for the following:
"Un-comment the following lines to enable the network syslog protocol listener."
That, combined with Splunk running on the syslog server can make a pretty sweet centralized logging system indeed. :P