Depends on what you wish to track.
If you only wish to track data from the message you can use TPE to point at any deployed schema.
http://www.novaenterprisesystems.com/Blog/post/BAM-Schema-Binding.aspx
If you wish to gather more detail, look at using the WCF BAM interceptors
http://blogs.msdn.com/keithlim/archive/2007/06/29/bam-interceptor-for-wcf.aspx