The LOG: entries are normal, basically after a transaciton log gets full pgsql starts a new one, and once the old one has no more live transactions it gets recycled. Completely normal. Transaction ID wraparound occurs at about 4 billion transactions, and be prevented by fully vacuuming all your databases before that happens. Once a week to once a year is usually enough. I think the database starts warning you at around 2 billion transactions (i.e. when the highest bit gets set).
The errors ARE something to worry about, maybe. You could be suffering from some kind of corruption problem. Do you have any queries that are failing when that happens?