Real time log watchers?

[Shane Presley]

Hello,

I am using RHEL ES v3.  I believe it comes standarad with logwatch,
which sends me nightly reports for certain logs.

What I'm looking for is an open source tool that will send me real
time e-mails based on syslog messages.  I have been told SWATCH
(http://swatch.sourceforge.net/) will do it, but before I go down that
road, I just wanted to make sure that there aren't any built in RedHat
tools?

Thanks
Shane