I like configuring a debug log as
logging/file:7 loglevel LOGDEBUG nosplit tsformat %F_%T /var/log/qpsmtpd/7-debug-%F_%H%M%S.log
In spite of the presence of "nosplit", the logs (with the %S in the filename) are typically broken into three files.
Incidentally, it would be nice to be able to use the PID in the filename (at least for an xinetd setup :)) to make sure that each connection goes into its own file.
Hans