Thanks again for the support, here's some points to note:

1) I have been using RB on my Media Server from 10.5.0 and this problem only started with 10.5.6 
2) This happens almost exactly every 27 minutes, 266 or 267 times 
3) On Google, there are lots of reports of bluetooth problems introduced with 10.5.6 
4) I have confirmed that these connection requests are coming from remote buddy, as if I remove the paired device from remote buddy, without removing it from Bluetooth Preferences / Paired Devices, the errors stop immediately. 
5) I have re-installed my system and as at version 10.5.4 I do not see these error messages. 
6) My Leopard media server is on 24x7 and these are the only error logs in the system, when I build a server my aim is to get as few repeated error logs as possible, and this really is just too much.

Here's the system.log file as from midnight to 5:00am this morning

Apr 20 00:00:00 MacSvr newsyslog[718]: logfile turned over 
Apr 20 00:04:20 MacSvr com.apple.blued[64]: ce: 00-1B-7A-3F-80-7F 
Apr 20 00:04:20 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 00:04:20: --- last message repeated 267 times --- 
Apr 20 00:04:20 MacSvr com.apple.blued[64]: Create connect 
Apr 20 00:31:08 MacSvr com.apple.blued[64]: ion failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 00:31:08 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 00:31:08: --- last message repeated 266 times --- 
Apr 20 00:31:08 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7 
Apr 20 00:58:02 MacSvr com.apple.blued[64]: A-3F-80-7F 
Apr 20 00:58:02 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 00:58:02: --- last message repeated 267 times --- 
Apr 20 00:58:02 MacSvr com.apple.blued[64]: Create connection failed 
Apr 20 01:24:56 MacSvr com.apple.blued[64]: (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 01:24:56 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 01:25:26: --- last message repeated 267 times --- 
Apr 20 01:51:45 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 01:51:45: --- last message repeated 267 times --- 
Apr 20 01:51:45 MacSvr com.apple.blued[64]: Create connection failed (0x4) for d 
Apr 20 02:18:39 MacSvr com.apple.blued[64]: evice: 00-1B-7A-3F-80-7F 
Apr 20 02:18:39 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 02:18:39: --- last message repeated 267 times --- 
Apr 20 02:18:39 MacSvr com.apple.blued[64]: Create conn 
Apr 20 02:45:27 MacSvr com.apple.blued[64]: ection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 02:45:27 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 02:45:27: --- last message repeated 266 times --- 
Apr 20 02:45:27 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1 
Apr 20 03:12:21 MacSvr com.apple.blued[64]: B-7A-3F-80-7F 
Apr 20 03:12:21 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 03:12:21: --- last message repeated 267 times --- 
Apr 20 03:12:21 MacSvr com.apple.blued[64]: Create connection fail 
Apr 20 03:39:09 MacSvr com.apple.blued[64]: ed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 03:39:09 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 03:39:09: --- last message repeated 266 times --- 
Apr 20 03:39:09 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80- 
Apr 20 04:06:03 MacSvr com.apple.blued[64]: 7F 
Apr 20 04:06:03 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 04:06:03: --- last message repeated 267 times --- 
Apr 20 04:06:03 MacSvr com.apple.blued[64]: Create connection failed (0x4) fo 
Apr 20 04:32:57 MacSvr com.apple.blued[64]: r device: 00-1B-7A-3F-80-7F 
Apr 20 04:32:57 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 04:32:57: --- last message repeated 267 times --- 
Apr 20 04:32:57 MacSvr com.apple.blued[64]: Create c 
Apr 20 04:59:45 MacSvr com.apple.blued[64]: onnection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 04:59:45 MacSvr com.apple.blued[64]: Create connection failed (0x4) for device: 00-1B-7A-3F-80-7F 
Apr 20 04:59:45: --- last message repeated 266 times ---