For completeness I'll mention that Powershell 3.0 now has a -Tail flag on Get-Content
Get-Content ./log.log -Tail 10
gets the last 10 lines of the file
Get-Content ./log.log -Wait -Tail 10
gets the last 10 lines of the file and waits for more
Also, for those *nix users, note that most systems alias cat to Get-Content, so this usually works
cat ./log.log -Tail 10