http://www.symphonicenergy.com/d/node/997
See the above link description for a discussion about render logs and the tail program.
When hardware rendering on the command line be sure to set the project directory like so:
render -s 702 -proj "G:\DEVELOPMENT\Fluids" -log logs/702_6_20_07.log "G:\Development\Fluids\scene
s\FountainRender.20.mb"
702 is the starting frame number.