Log analysis solutions cannot manage applications and application performance all by themselves. They need to be complemented by either or both an APM and an AA-IPM solution in order to get the right data into the back end data store.
I was invited to CSI 2010 this year to speak on the Low Hanging Fruit of Virtualizaiton Security. This presentation brought to light some simple to implement features that would give you the most security for what I consider very little cost or effort. These 7 items if implemented will improve the overall security of your virtual environment.