We just shipped the RTW version of Advanced Logging which is the product I've been testing for roughly the past year. We shipped the Beta in March and the main feature added since that release was Log Filtering. Log Filtering allows you to specify criteria to be met in order for that request to be serialized to the log file. Its a really useful feature for minimizing the amount of "noise" in your log files.
Learn how to create Log Filters for your log definitions: http://learn.iis.net/page.aspx/692/advanced-logging-for-iis-70---log-filtering/ .