Chad, I've never heard it called eventlog, but it has to be the same considering the amount you reduced the size of the DB. I've never needed these comands becuase I always insist on having Management Access to the DB. If you don't do a lot of transactions and you make regular backups and losing a couple of days work or how ever often you do backups, then if you set the Recovery Model to Simple the DB won't get so big so you won't ever have to do this. Of course there are risks to setting it to simple, mainly that you won't be able to replay transactions since the last backup. I always set mine to simple since I backup every night and if I lose one day then its not that big of a deal. In a situation where you where taking credit card payments and a lot of changes where made every day, I would not suggest this, but for most sites its fine.

hth

Bruce

Usually the term Transaction Log refers to the SQL Server Transaction Log. There is one for every DB in a SQL Server Instance.

The EventLog Table stores events that happen inside DNN, the Transaction Log records every transaction that goes through your Database. 

The transaction log can get very large because it is recording all the inserts to the EventLog table and the SiteLog table, and as Bruce pointed out the Transaction Log can be kept to a minimum if the recovery plan is set to simple which is a setting in MS SQL Server management.

John is correct: SiteLog, EventLog and SchedulerHistory are DNN tables, while the TransactionLog is an SQL server database. DNN tables can be shriked frequently by DNN scheduler, TransactionLog by database maintanance. SiteLog can also be omitted, when saving log to files as I pointed out before.