At this time, I'm logging all traffic from my linux server to a central syslog server. After setting up syslogd with a -r option on start, it appears I can receive traffic from my servers, but only a small portion appears to be actually coming in. My iptables firewall does not report any dropped packets, but it seems 1/15th of my overall syslog traffic is getting dropped.

Anyone have any suggestions?

Well that's the nature of UDP, it's a "best effort" protocol. If packets are being dropped, that means your network is congested or unreliable, which could be for any number of reasons.

Make sure you have the proper speed and duplex configured for all the network cards and switch ports.
Make sure all your Ethernet cables are good.
If you use managed switches, check the port statistics to see if there are any errors.
Look at the interface statistics on each box to see if you're getting protocol errors (various flags to netstat will allow you to see this information).