Trace To the Error Log
I think the article is useful in a very limited scenario:


You are on a local or otherwise isolated machine.
You need to do this for a very short burst of activity.
You have no access to Profiler (not my first choice for tracing anyway), no idea how to construct a server-side trace, and no access to Books Online so you can learn the syntax (you don't need Profiler to set up a trace).
You have control over, or at least cursory knowledge of, the set of statements that might be executed against your instance for the duration of your "trace."
You have a good idea of how much space is on your C drive...


Without those disclaimers in place, I'm actually quite nervous that someone is going to skim the article, not read the comments, put this into production, and forget about it until - well, you can imagine the handful of scenarios that could result.