I worked with StreamBase in a previous life, and found it to be very useful for processing streams. However I can't afford StreamBase for a project I'm doing now, but if there is an open-source alternative I'd like to give it a spin. My other solution was to hack together a StreamBase like application using SQLite, but that'll take some time, and I don't have that sort of time right now.
You might look into EsperTech: Event Series Intelligence
Quite different from StreamBase, but there is an OpenSource stream processing engine called Storm:
Storm is a distributed realtime computation system. Similar to how Hadoop provides a set of general primitives for doing batch processing, Storm provides a set of general primitives for doing realtime computation.
I've not used it myself but it looks interesting.
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