|Event Log Applet|
Many windows programs including Windows Installer use an NT event log to log messages. Unfortunately the quality and quantity of information sent to these logs is frequently minimal (or subminimal) and again unfortunately Windows Installer excels in this area...
Windows Installer appears to only use the "Application" log and the source type "MsiInstaller" (you can filter by this).
It is still worth examining these event logs when trying to diagnose problems, particularly any repair invokation (by shortcuts etc). See Microsofts MSDN page for MSI Event logging for more information.
Also note that you can frequently obtain more (and better) information by examining verbose Windows Installer log files.
The viewer is a standard utility installed by windows and to start it choose "StartSettingsControl PanelAdministrative ToolsEvent Viewer". It looks like: