Yes I see it from time to time...
Event Type: Warning
Event Source: TrapService
Event Category: None
Event ID: 1027
Time: 6:01:46 PM
Computer: BillyBadGuy (Not really my server name)
There was an error deleting old message from the database
Error Detail-Transaction (Process ID 172) was deadlocked on lock resources with another process and has been chosen as the deadlock victim. Rerun the transaction.
For more information, see Help and Support Center at http://go.microsoft.com/fwlink/events.asp.
Happens when the Trap message rate goes sky high and usually its a device or a couple getting ready to fall off the proverbial cliff. The older 3Coms hubs running StarTek code seem to do that alot. You might want to plow thru your traps a weed out the informational or usless flooding messages with a discard rule, then they won't attempt to do a db write should take a while until you get it sorted out, but a good investment of time (at least I think so)