1-2-All can save the info about the entire mailing in a single log file. In order to turn this feature on, please define a variable in your engine.inc.php file:
$GLOBALS['mailer_log_file'] = 1;
Every mailing will create it's own log file in /cache/ folder with a name "mailing-1234.log" where 1234 is a mailing ID. It logs according to sending engine's logging level.