Small Business Susan

The Official SBS Blog : Recovering Disk Space on the C: Drive in Small Business Server 2008:
http://blogs.technet.com/sbs/archive/2010/03/02/recovering-disk-space-on-the-c-drive-in-small-business-server-2008.aspx

So revisiting this… you may find that the event logs for licensing do not clear themselves out. 

The licensing log can consume a significant amount of hard disk space

This is discussed on the Windows Small Business Server 2008 Release Documentation
You can delete the events in the Windows SBS 2008 licensing log to free up additional space on the hard disk drive.

To delete events in the Windows SBS 2008 licensing log

1. From the server, open a Command Prompt window as an administrator. To do this, click Start, and then in the Search box, type command prompt.
2. In the list of results, right-click Command Prompt, and then click Run as administrator.
3. At the command prompt, type the following command: del “%systemroot%\system32\winevt\logs\Microsoft-Windows-Server Infrastructure Licensing*%4Debug.etl.*”
4. 

 You can also use Registry Editor to disable the licensing log.

1. Click Start, type regedit, and then press ENTER.
2. In Registry Editor, locate and then click the following registry key:
   HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\ServerInfrastructureLicensing
3. In the details pane, right-click TraceMask, and then click Modify.
4. In the Edit DWORD dialog box, change the value for Value data to 0 (zero), and then click OK.
5. Restart the server.