It does count the number of lost trace messages and add a trace
message
	to that effect though, right?
 
No, but I'll add that to the list of things to do in the future.
    

I think we really need this. It's trivial to add -- as soon as you fill,
overwrite the last trace record with a new 'lost events' record and bump
a counter in it whenever you try to write a record. When space becomes
available just progress as before.