There are some hard-coded app-config values that you can use tell BTSharp to output information about Events, Errors, Information, and Debugging.
I've included the AppSettings keys that BTSharp loads when a BTClient is instantiated.

BTSharp.Verbosity
Description: Defines the amount and type of console output to display during the application's run. You can include any combination of "Event", "Error", "Debug", and "Information" in the value position of this configuration.
Event - Events include significant events including connecting to peers and disconnecting from peers
Error - When an internal error in the library is gracefully handled, output describing this occurence is logged in the console.
Debug - Detailed information about any protocol-specific occurences are outputted to the console. This is useful if there is a problem with communicating with another type of BitTorrent client and you'd like a trace of the Peer-to-Peer session between the clients.
Information - Display miscellaneous important information such as the internal values of messages received from peers.
What it's good for: This is one of the most important tools you can use for debugging. If you ever have a problem, you can always report a trace to david _at _ btsharp.com and we will work to resolve any hold-up you're having.
When you have debugging verbosity set, and you're running from a console application, the output you'll get will look like:

BTSharp.IsUPnPEnabled
Description: If you're behind a router, should BTSharp use the Universal Plug and Play protocol to try to open a port on the router so that you can accept incoming connections?
What it's good for: This is useful for enabling connectivity between peers transferring a file. For end-users, UPnP makes life a lot easier than referring users to a link like http://www.no-ip.com/support/guides/routers/linksys.html.
BTSharp.ListeningPort
Description: By default, BTSharp starts trying to find ports to listen on starting at port 6881. You can override the port you start trying to listen on by using this configuration in your App.config file of your project.
What it's good for: This is useful if you know that your network has a firewall and only allows incoming connections over a certain port, e.g. (port 5050).
BTSharp.NetworkConfig.MaxNumberOfPendingConnections
Description: This will stop your BTSharp client from trying to connect to 100 peers at once, and slowing down your performance.
What it's good for: You can control how quickly your BTClient will connect to new peers by setting this value.
BTSharp.NetworkConfig.MaxNumberOfActiveConnections
Description: This is used to limit the number of peers you connect to per file you are downloading.
What it's good for: Connecting to too many peers may impact performance.
BTSharp.IPAddressToBindTo
Description: If you set this, your BTClient will only listen on the specified IP Address.
What it's good for: If you have multiple network interfaces, you can manually configure your BTClient to listen on only a certain IP Address. This is useful if you're only transferring a file over a local area network, behind a NAT. If you are configured behind a Virtual (Private) Network, this would be useful as well.