Vinay,

In LogRecord.__init__ what exceptions do you expect to catch?  Looking at the code for basename and splitext in os.py it's pretty hard to see how they would raise an exception unless they were passed something besides string or unicode objects.  I think all you are doing here is masking programmer error.  In StreamHandler.emit what might you get besides ValueError (if self.stream is closed)?  

I don't have time to go through each of the cases, but in general, it seems like the set of possible exceptions that could be raised at any given point in the code is generally pretty small.  You should catch those exceptions and let the other stuff go.  They are generally going to be programmer's errors and shouldn't be silently squashed.

Skip