Sawmill is a log file analysis tool which can injest a huge variety of log file formats and produce reports from them. Recently the company announced that it officially supports the W3C compliant logs files from Flash Media Server, which I believe is the first product to do so.
Flash Media Server logging and reporting has traditionally been a painful task as the initial versions of Flash Communication Server did not support text logs at all. W3C compliance was introduced by FMS 2 and made things a lot simpler, but there was still no easy to use report builder available. Sawmill appears to fill this gap and allows users to access performance statistics and provide usage and service level reports.