That looks like a great start to me...
You might want to check out the following blog posts;
How to configure SNMPv3 on a Nortel Ethernet Routing SwitchHow to restrict SNMP community strings on the ERS8600ERS8600 Access PolicyERS8600 Usernames and PasswordsERS8600 Boot Configuration SequenceHere are the commands for setting up a SYSLOG host;
config sys syslog host 1 create
config sys syslog host 1 address xxx.xxx.xxx.xxx
config sys syslog host 1 host enable
config sys syslog ip-header-type circuitless-ipJust be ware that in the above config I'm using the source IP address as the circuitless-ip interface? If you don't have an circuitless-ip interface configured you can just leave off that command.
Good Luck!