Combat logging is a option in Preferences, which makes a file in your SWTOR folder that can be uploaded to different websites for statistics. This is a new feature after Patch 1.2, but it is still no dps meter ingame..
I am using the combat logging in swtor quite a lot, and I would like escpecially my guild to do it aswell. So for people who want to learn more about it here is a link for my turtorial on it:
Combat Logging Tutorial