Currently, a log on the Client is useless, because it does not save the information from the "Client console" (status bar) in log.nsf.
In the setting of the Client ("File -> Preferences...") there Log Settings, which has a tick "Enable Logging". Set it, but it does not affect on the recording in the log. Moreover, if you close Notes Client, and then open, then this ticked in the settings is disabled! That is, when you restart the client it spontaneously reset.
Also, nothing can help "Monitoring Configuration" on local (events4.nsf), because the settings can be done only for servers. Generaly purpose of this database "on local" is unclear...
Total, in a local log are heaps of documents with similar content:
21.10.2010 11:53:59 Dynamic Client Configuration started
21.10.2010 11:53:59 Initializing Dynamic Client Configuration
21.10.2010 11:53:59 Dynamic Client Configuration updating policy information
21.10.2010 11:53:59 Dynamic Client Configuration updating location information
21.10.2010 11:53:59 Dynamic Client Configuration shutdown
which is not very informative, and certainly not something that would like to.
Please, make the ability to save information from the status bar in the log, this is especially useful during the development and debugging applications.