Hi There,
Why don't you look at using psexec, part of the PSTOOLS suite http://technet.microsoft.com/en-us/sysinternals/bb896649.aspx to execute your query on the remote system and pipe the results back to your local system?
Doing this, you will minimise your network traffic both ways, combine it with the iCheckpoint parameter and you should be good to go.
Alternatively, as the logs are already on an IIS server, why not consider publishing a little page on that server for monitoring using a TPL (template file) and colour coding your information. Take a look here for some great examples http://blogs.iis.net/chrisad/archive/2006/07/13/Chris.aspx Then everything stays on the server and you generate no traffic.
If you didn't know, the PSTOOLS suite is another awesome little collection of free utilities that should, in my opinion, be part of every Windoze technicians arsenal. Hope this helps.
Good luck.
Cheers, Dave