If you have competing needs for logging and performance then I suppose you could dump your binary data to the file as-is, with perhaps each record preceded by a tag containing a timestamp and a length value so you'll know where this particular bit of data ends. But I hasten to admit this is very ugly. You will need to write a utility to read and analyze this file, and will be helpless without that utility.
A more reasonable solution would be to dump your binary data in text form. I'm thinking of "lines" of text, again starting with whatever tagging information you find relevant, followed by some length information in decimal or hex, followed by as many hex bytes as needed to dump your buffer - thus you could end up with some fairly long lines. But since the file is line structured, you can use text-oriented tools (an editor in the simplest case) to work with it. Hex dumping essentially means you are using two bytes in the log to represent one byte of data (plus a bit of overhead). Heh, disk space is cheap these days.
If those binary buffers have a fairly consistent structure, you could even break out and label fields (or something like that) so your data becomes a little more human readable and, more importantly, better searchable. Of course it's up to you how much effort you want to sink into making your log records look pretty; but the time spent here may well pay off a little later in analysis.