I have installed this a few days ago and i can see the 5 minute data but nothing longer, i have had a look at the indexes and can see the web inteligence ones have no data. I am using the free version of splunk but contary to another post i believe scheduled searches are allowed.
I read that before but according to this link http://docs.splunk.com/Documentation/Splunk/5.0/Admin/MoreaboutSplunkFree it should still run the scheduled searches.
-Any alerts you have defined will no longer fire/function, although you can still schedule searches to run for dashboards and summary indexing purposes.
Note that the trial version of Splunk allows scheduled searches. However, the trial version is free, but it only runs for something like 60 days. The free version is free forever, but does not run scheduled searches (as of versions 4.x to the current date).