Hi,
Thank you for posting in Symantec community.
I would be glad to answer your question.
I also want to it it that when the database becomes too large that it can automatically be truncated this way I can preserve disk space ?
--> It may happen automatically if check mark is selected to truncate the database and rebuild the indexes.
Aside from the database itself, where an I go to reduce filesize//foldersize when they become too large?
--> Refer the following articles to save disk space.
Disk Space Management procedures for the Symantec Endpoint Protection Manager
http://www.symantec.com/docs/TECH96214
Changing the log settings to reduce the size of the database.
http://www.symantec.com/docs/TECH105238
Symantec Endpoint Protection Manager: How is Database Maintenance scheduled?
http://www.symantec.com/docs/TECH95880