I just wanted to chime in here after using smooth1's application a few times.
I used it to log my M3 on the track to test revisions of my tuning to make sure that the car is properly hitting the targeted timing and vanos positions. I am quite happy with the program. I think that it's only the start of his capabilities.
Thanks for making this available to us. The logging is fantastic. The only thing I'd like to see added is feedback from knock sensors, but I think this may be added at a later time. Anyone on the fence should give it a try.