Bernard Cheah is an IIS MVP who contributed two chapters to the LogParser Toolkit. He posted the following code snippet to show what's possible using LogParser.

ping -n 15 | logparser "SELECT TO_INT(REPLACE_STR(EXTRACT_VALUE(Text,'time',' '),'ms','')) AS Response INTO Ping.gif FROM stdin WHERE Text LIKE '%%Reply%%' GROUP BY Response" -i textline -legend off -chartTitle "Ping Times" -view

Bernard is a very knowledgeable IIS MVP who maintains a blog at Aside from the LogParser Toolkit, he co-authored Securing IIS 6.0 (Syngress Press)