WSE tracing tool from the master of Web services interop
Yes, now you have a good time viewing the traced WSE 2.0 messages - whether they flow over HTTP or TCP or ... OK, a version 1.0 - but very amazing. Simon did it and uses the standard WSE tracing feature to put up a nice GUI.
There is also another, but rather limited (when it comes to transports) tracing tool from Mike.