Does anyone monitor their iDracs with LM? Tons of duplicate alerts

This is normal for a lot of monitoring of this type. Generally, you would tune down all but the more "global" thresholds. Think ESXi monitoring. Something will trigger a red, cmos, but then it triggers the overall board health as well, thats another red.

The issue there then is your concern over missing something that wouldn't trigger an overall but does a minor. 

So we leave it as is in this case.