The debug log has a variety of useful settings depending on the issue being troubleshooted. Ideally, the issues can be narrowed down to two types: crash and non-crash. The main parameter values used include:

Value 1 = Enable debug log
Value 2 = Include call parameters from commands and methods (interpreted)
Value 4 = Enable tabbed format for readability
Value 8 = Disable immediate writing to reduce possible slowdowns

For non-crashing issue:
SET DATABASE PARAMETER(Debug log recording; 1+2+4+8)

For crashing issue:
SET DATABASE PARAMETER(Debug log recording; 1+2+4)

The main difference between the two settings is paramter value 8 as this setting as the most influence on performance. For crashing, it is important to gather as much info as possible so it is recommended to not disable immediate writing if possible. For all other non-crashing situations, value 8 can be included if the performance hit is too much.