Starting in hs15 of HotSpot in src/share/tool/LogCompilation is a very rough tool for parsing -XX:+LogCompilation output. It's main purpose is to recreate output similar to -XX:+PrintCompilation -XX:+PrintInlining output from a debug JVM. It requires a 1.5 JDK to build and simply typing make should build it.
It produces a jar file, logc.jar, that can be run on the hotspot.log from LogCompilation output like this:
java -jar logc.jar hotspot.log
This will produce something like the normal PrintCompilation output. Adding the -i option with also report inlining like PrintInlining.
LogCompilation overview has more information about the LogCompilation output itself and PrintCompilation has more information about interpreting PrintCompilation style output.