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Hey Steffen, this may not be what you want to hear, but I've also considered using such tool in the past and tried few (was long time ago and I do not remember the names, and have not worked enough with them to justify recommending any). Basically I've always went back to good old text based editors.
I've been using Notepad++ for quite some time now: scripting, log reviewing, etc. It also features many useful plugins.
When I troubleshoot, I may sometimes compare two logs: one from a good run to the other from a bad run, depending on what type of problem I'm troubleshooting. For this purpose I use WinMerge.
If I need to see what changes were made to the system after a certain task is run, I use Regshot, Procmon.
For general log analyzers, Google may also be of help:
the tool i liked most at the moment is LogMX (http://www.logmx.com)
Unfortunately it is relativly expensive for commercial usage.
I'll look around further and will post in here, when i find something different.
just would like to bring this topic back up again.
Maybe in the meantime people have found useful tools to keep track of what's going on in your BladeLogic environment.
This is still a pain point when running a MAS setup.