If its 2003, then right click the globe icon in your system tray.
Select Norton Internet Security and Left click it.
On the box that now opens, select Alerting Level (that's another Left click)
Make sure the slider is Low (which is the Default level on mine).
That should reduce the amount of information you are being bombarded with.
As for what action to take, I usually let NIS do its 'default' thing. You can get rid of the Alert Tracker by Right clicking the globe icon and selecting Hide Alert Tracker.
Hope that helps.