Ramblings from another nerd on the grid
Microsoft Monitoring Agent monitors computer infrastructure and application health. It collects diagnostic data, such as performance metrics, event logs, and traces. Microsoft Monitoring Agent can be used as a standalone tool or together with System Center Operations Manager. When monitoring .NET applications, you can direct the agent to save application traces in an IntelliTrace log format that can be opened in Visual Studio Ultimate. When connected to System Center Operations Manager, the agent calculates the health state of the monitored computers and objects, and then reports back to the management server. The management servers centrally distribute the configuration to agents and store data received from the monitored computers.
More information and the download @ http://www.microsoft.com/en-us/download/details.aspx?id=40316.