Once you enable the Developer Dashboard in SharePoint 2010. See below for instructions by Jie Li using Powershell or STSADM:
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STSADM: stsadm -o setproperty -pn developer-dashboard -pv OnDemand
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Windows PowerShell:
$svc=[Microsoft.SharePoint.Administration.SPWebService]::ContentService
$ddsetting=$svc.DeveloperDashboardSettings
$ddsetting.DisplayLevel=[Microsoft.SharePoint.Administration.SPDeveloperDashboardLevel]::OnDemand
$ddsetting.Update()
You can write log information out to the Developer Dashboard using SPMonitoredScope see more details here: http://www.wictorwilen.se/Post/Improve-your-SharePoint-2010-applications-with-monitoring-using-SPMonitoredScope.aspx?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+WictorWilen+(Wictor+Wil%C3%A9n)
This certainly is quite different from writing to the ULS logs in MOSS / WSS using TraceProvider.