I wrote about and dismissed SmarterStats for web server log analysis. It's been almost a year, so a little update is in order.
I have licensed and installed the enterprise version of this tool. With the web farm deployed (read the Sharepoint category) and some legacy web servers, SmarterStats became a very attractive option.
For those with less demanding needs, Microsoft has a KBase article that shows how to use the bulk copy program (bcp) to load the log files.
Update: KB Article discovered via John West