I need to take an existing winforms application and drop into an event tracing mode, with hopefully as little friction as possible.
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How many different control types do you have? If you only have a handful of control types that you are looking to trace with, it may be worthwhile to subclass them and do a find and replace on your project to change them to your subclass. This should only take a minute or two.
In your subclassed controls, you could override a small section of the methods, adding tracing before calling the base method.