John's posting refers to Mac OS 10.4. For users running 10.5, the process is almost identical...
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To create a console.log file:
1. Launch the Console application at /Applications/Utilities/Console.app
2. Select All Messages in the area on the left of the window (see above). You many need to click the Show Log List icon in the toolbar to show that area and you may need to twist down the Log Database Queries item.
3. Choose File -> Save a Copy As... to create a console.log file.