When the Translation log isn't whizzing by at 100mph, it can provide useful information, but I think it can be made better. My ideas - feel free to add your own are:
1) Pause and resume button - I know you can pause the translation, but...
2) Have collapsible/expandable sections - watching 2,000 sets of CSV Reader Directives flash by isn't much fun
3) Progress bar when a particular action is being tardy