> Imagine I continuously change the OS's setting to always reflect the local time. Now I read a log of events happened last Tuesday.
Those two things are unrelated, how frequently you changed timezone settings should have zero impact on your log... unless it means more "settings changed" entries. Changing your current timezone does not move things that already happened.
The event-log entries (A) shall be order-able by actual chronology, excepting relativistic effects, and (B) shall all display under some unified reporting timezone, whether that's hardcoded to be UTC, or the system timezone when exporting/displaying, or a time-zone chosen in an Event Viewer GUI.
If either (A) or (B) are false, that means you're dealing with worryingly flawed software from developers who weren't prepared to implement timezone logic.
> Now I read a log of events happened last Tuesday. Was it when I was in Europe or when I was in the US?
In all cases, your first step is to figure out where those real-world events fall relative to the log entries.
It will always be less work if the event-log display timezone happens to match one of the ones for your departure/arrival times.
> Then I compare two timestamps from last spring. They differ a few minutes, but one was before the switch to DST the other was after. Which one happened first?
Easy: The one that sorts earlier, and if you display logs in UTC they will be visually distinct as well.