I just wanted to let you good peeps know that I’ve posted some code to the exchange which displays a print console - just like with the simulator - which works on device.
It basically captures all print statements and adds them to a rolling buffer which can then be displayed in a scrollable view by shaking the device (or any mechanism you prefer.)
You can find it here: http://code.coronalabs.com/code/device-debug-print-console
It’s been created because I needed a way to see the console on-device without going through XCode. It offers a number of customisations, all listed in the Code Exchange post.