Thank you for your replies.
I've changed the following
Log=log.nsf, 1, 0, 7, 50000
Server_Session_Timeout=30
We have a policy already in place to let users check their mails every 10 minutes.
Also I brought down the server and moved log.nsf (28% usage) to a backup location. Server creates a new one automatically.
Will let you know if this helped or not.