[Zvi]

I have the same problem:

Running

cPanel 11.24.5-R37946 - WHM 11.24.2 - X 3.9 CENTOS 5.3 i686 virtuozzo

Log is scheduled to run between 2-5am from WHM/Server Configuration >> Statistics Software Configuration. Whm --> Tweak Settings >>Number of days between processing log files = 1
Running on my vps, and the sites aren't even live, so I assume it shouldn't take even 1 hour to analyze the logs.
Server tie is correct, I've checked.

Still, at any given time I have something like this:

root 1960 0.0 0.3 3744 1760 ? SN 10:55 0:00 cpanellogd - waiting for child to process logs
root 3189 0.0 1.3 15476 7004 ? SN 10:55 0:00 cpanellogd - Waiting for proper hour to scan logs.

Anything else I should try?
15mb process just waiting to start working is a bit excessive IMHO, especially when there's another process waiting for something...