I spent some time looking at SmarterTools. It is designed for an ISP to generate reports for their customers. For example, you create "sites" and define where to find the logs for that site. The location can be local, UNC paths or FTP sites. It will then collect the log files and update its internal statistics in the background.

I am very impressed. I won't be using the tool, however. Although I built the websites for a number of organizations, I am not hosting a statistics service for them. If I were, SmarterTools would get serious consideration.