I am using the default config which has the logging set at errors only.
I had a discussion with a couple of other people at the office today and they too reported similar problems (and others).
Are you guys using a local postgres or a remote one? I am usually using a remote one (rackspace) but as I mentioned before If I connect to it using psql I don't have the same problems. Also the problem with large text fields occurs even when running against a local pg.