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I would not create a specific alert for each single service. Once you baselined your metrics you would only need one alert for "Component down". Within the alert you can specify via variables what the name of the component etc. is.
Remember, each alert is a SQL Query against the database and it is eating a little bit of performance. when you have thousands of alerts basically querying the same stuff it can accumulate. also it makes your alerts table messy and not easy to look at.