The following Code (written in Expression Shapes) will write to the Event Log:
System.Diagnostics.EventLog.WriteEntry("Detail: "+System.Convert.ToString(SOAPException.Message),"");
The following Code will set a Timeout for a WebService:
WSRegistrationRequest(SOAP.ClientConnectionTimeout) = 20000;
Both Tips are out of a nice MSDN Article (BizTalk 2004 and WebServices):
http://msdn.microsoft.com/library/default.asp?url=/library/en-us/BTS_2004WP/html/5cab05ab-6848-4f6c-8d11-9abc4dd1d1fa.asp