Monitoring with Zabbix: Reducing granularity?

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http://serverfault.com – I've setup Zabbix on a small VPS recently and got it to monitor three other VPS's. Already we've got about 9.8 incoming values per second and the load on the Zabbix server are already topping. It's got 256M of memory along with APC as opcode cache to speed up PHP. Is it possible to reduce the granularity, ie lower the incoming values to offload our Zabbix server as we're not monitoring misson-critical stuff? (HowTos)