WSS 3.0 Config Database (SharePoint_Config) is 50GB!

I have WSS 3.0 set up on my server using the default Windows Database that is setup with WSS 3.0.  I have connected to it using MSSQL Server Manager Express and found that the size of the SharePoint_Config database is 50GB! Further investigation shows that this is the transaction log, and this is the INITIAL size it was set to!  Doing a transaction log backup will not shrink it below the initial size, so I'm stuck with this massive file on a server when the content is only 2 sites and they contain about 7 GB worth of data (content) as shown by the size of the SharePoint content database (not shown).  The problem here is that I am running out of disk space and since this is taking up more than 35% of my available space, I would like to make it MUCH smaller.

My question is two-fold.

1.  Is the a standard size for this database?  Seems awfully large to me.
2.  Can I reduce the minimum size of this file without adverse effects?  If so, what size?

Thanks in advance for your help.
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