I tried it for a little while, but it's hard to make it useful unless it's somehow integrated in the game itself. Swapping out to make manual notes of kills and other stufff in the log is just too game busting. If you can integrate it into the game, it'd definately be cool.
Idea, does SH3 only track ship sinkings? If so, can we change so it can track other variables that would warrant an entry into the log? It would be interesting if it tracked more then just a sinking of a ship. Like the method of sinking for example, deckgun or torepdo (or god forbid, ramming!) perhaps other things like damage sustained. It records when you take damage and maybe how much and from what, if that's doable.
Same with important things, like permanent damage or diesel levels, etc.
For example.
Patrol 1 - U-67
-------------------
Time 1:20: Ship sunk! C-2 cargo Xxxx tonnage! Ship sunk by deckgun attack.
Time 2:30: Depth charge attack! Hull integrity reduced to 73%. Starboard Diesel destroyed!
And so on and so forth.
Probably not possible to get SH3 to track this kind of stuff, but thought I would put the idea anyway. Good luck with the program Observer, and keep us updated.