I was working on a virtual test server with a very small (7Gb) C: drive, and the monitors were throwing alerts about low disk space. There weren’t any temp files, etc, that could be deleted to quickly free up space. ¬†Tree Size revealed that there was a 3.5Gb file named modellog.ldf, which was clearly bloated comparing it to the other databases on the server.

I found this technique which quickly solved the problem: http://www.itbangbang.net/2010/06/how-to-shrink-large-modellogldf-file.html