Every once in a while I come across a gem of a shareware tool. This time its BareTail.
If you are on Windows, you ought to get it.

BareTail allows you to:

  1. tail log files

  2. Highlight lines
    Eg: you can highlight INFO messages differently from DEBUG messages

  3. Search lightening fast
    It really is super fast, as you type each character, it shows the results across the entire file.

Its not free, but its worth it.