I am using JPA with hibernate underneath. Using the property

<property name="hibernate.show_sql" value="true"/>

Shows just the SQL and not the values of parameters passed -it displays ? marks for query parameter as incomeexpe0_.transactiondate)>=?
Want to know what was the exact parameters passed -This is real helpful for debugging.
This can be achieved using hibernate logging -Add following two lines in your log4J.properties file

log4j.logger.org.hibernate.SQL=TRACE
log4j.logger.org.hibernate.type=TRACE

If this is used “log4j.logger.org.hibernate.SQL=TRACE” -No need to use property hibernate.show_sql, it wil take care of dumping queries.
The secondstatement, “log4j.logger.org.hibernate.type”, logs the JDBC parameters passed to a query

TRACE [main] (BasicBinder.java:83) - binding parameter [1] as [TIMESTAMP] - Thu Jan 03 01:00:18 IST 2013
TRACE [main] (BasicBinder.java:83) - binding parameter [2] as [TIMESTAMP] - Thu Jan 03 23:00:19 IST 2013

For even more advanced analysis and precise JDBC formatted queries (Non in an ORM form, but REAL sql), jdbc proxy driver like P6Spy can be used.