DebugView is a free tool from Microsoft Sysinternals. DebugView can monitor and display both kernel-mode and Win32 debug output, so you can debug problems with device drivers as well as Windows applications both on a local or a remote workstation.
DebugView supports Windows NT, Windows 2000, Server 2003, Windows XP and Windows Vista, as well as Windows Server 2008 and Windows 7. It will work with both 32-bit and 64-bit Operating Systems.
More Info: http://technet.microsoft.com/en-us/sysinternals/bb896647.aspx
Download: http://download.sysinternals.com/Files/DebugView.zip