Open it up and read it?

Not sure what you're asking...........

Failed SEARCHES aren’t recorded without a third party tool. Behavior Tracker from Mondosoft allows you to track the effectiveness of search.

As for the Gatherer log, for failed  indexing operations, the best thing is probably to turn on logging for successful and unsuccessful operations from the UI then use the NGTHRLOG.VBS file to dump the contents into a CSV that you can open with Excel. NGTHRLOG.VBS is available from Microsoft Product Support Services at no charge.

I believe that ngthrlog.vbs is also on the sps2001 server cd…………..if not on the sps03 server cd..........

The one PSS gives you for SPS 03 is greatly enhanced… I worked with Mike to make sure it was. It now reports just about every code that SPS records when indexing. It’s on version 1.0.0.11.