This addon allows you to log the chat channels that you decide to log, not all chat channels that you are monitoring. So you may log guild, says & emotes but not the side chatter in party, tells, or the General Channel... or any combination that you wish.
Updated for Group/Raid/Battleground Leader.
Blizzard finally corrected the ChatLog in 4.3 (itwasn't logging anby chat that I could find before the patch).
5.0.4 9/1/12 -- MoP, but the Chat Logs are broken again