I'm curious how other NetView uses are approaching Sun hardware
monitoring--specifically for hardware faults (e.g. panics, hardware,
fatal, memory errors, ECC etc. ).

Talking to a Sun rep, they reflexively suggested Sun Management
Center. http://www.sun.com/solaris/sunmanagementcenter/  

I investigated it, but it starts looking a whole lot like NetView plus
a rich set of monitoring defaults along with a rather fancy
Sun-specific SNMP agent included.  SunMC's basic (free) package
doesn't seem to do much for the hardware errors I'm interested in, and
the next step up appears to get really expensive really quickly.  What
seems worse is that the SNMP agent that ships with it wants to talk
SNMPv2usec for SET and GET commands, so NetView probably can't be used
directly with it.  The SunMC agent does send SNMPv2 traps which
NetView (but not MLM) can handle. 

If one were to develop a script to watch the syslog file--or use a
Tivoli logfile adapter--and perhaps view the output of prtdiag looking
for errors, is there anything (from a hardware failure perspective
alone) one might miss that SunMC (Advanced or Premier) might catch?

Best Regards,
--