We study the effect of the resummation of logarithms for tbar{t} production near threshold and inclusive electromagnetic decays of heavy quarkonium. This analysis is complete at next-to-next-to-leading order and includes the full resummation of logarithms at next-to-leading-logarithmic accuracy and some partial contributions at next-to-next-to-leading logarithmic accuracy. Compared with fixed-order computations at next-to-next-to-leading order the scale dependence and convergence of the perturbative series is greatly improved for both the position of the peak and the normalization of the total cross section. Nevertheless, we identify a possible source of large scale dependence in the result. At present we estimate the remaining theoretical uncertainty of the normalization of the total cross section to be of the order of 10% and for the position of the peak of the order of 100 MeV.
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