I don't understand how my IPS 4240 handles the storage of events. Right now my oldest event is only several hours old. I can understand the circular logging, but it's hard to believe there's only enough room for a few hours, especially when there appears to be free disk space as noted below, unless I'm looking at the wrong partition.
system is using 17.8M out of 29.0M bytes of available disk space (61% usage)
application-data is using 38.9M out of 166.8M bytes of available disk space (25% usage)
boot is using 37.9M out of 68.6M bytes of available disk space (58% usage)