davec13o2 Question 1: Is there any setup required for storing the guiding logs or is it automatic?
Unfortunately, it is automatic.
Question 2: Is the log stored under USB Drive/ASIAIR/log?
Yes, if you had also selected USB storage for your images. They go together.
However, both the ASIAIR and the PHD2 logs appear to only be generated after you have completed (or explicitly end it in the AutoRun window by tapping the icon on top right) an AutoRun sequence. No AutoRun, no PHD2 log.
Chen