The error log will be in the path you specified in the "Error file:" text box. Are you using a drive letter to specify the path or are you using a UNC path? If you're using a drive letter in the path, make sure it exists on the machine the DTS package is being executed from. (This means if the path is "h:\logs\Dtslog.txt" and you're executing the package from your machinge, that path better be valid on your machine. If the package is scheduled as a sql job, that path must exist on the sql server.)
The error log does contain execution time.
Checking the "Log package execution to SQL Server" will log information in the msdb.dbo.sysdtspackagelog table.
SELECT * FROM msdb.dbo.sysdtspackagelog
WHERE [name] = 'name of the dts package'
Here's an example of what the error log file contains:
---------------------------------------------------------
The execution of the following DTS Package failed:
Error Source: Microsoft Data Transformation Services (DTS) Package
Error Descriptionackage failed because Step 'DTSStep_DTSSendMailTask_1' failed.
Error code: 80040428
\Error Help File:sqldts80.hlp
Error Help Context ID:700
Package Name: SendMailTest
Package Description: (null)
Package ID: {4510F542-1C37-4A4B-A4E8-5F407DBDF0E9}
Package Version: {8616C9A6-0C07-4D80-9172-7B5C70BC5C77}
Package Execution Lineage: {E2A0D0DE-D88B-45FF-B01E-15DF3190CE18}
Executed On: MyLocalMachine
Executed By: erik
Execution Started: 11/16/2006 10:10:02 AM
Execution Completed: 11/16/2006 10:10:03 AM
Total Execution Time: 0.641 seconds
Package Steps execution information:
Step 'DTSStep_DTSSendMailTask_1' failed
Step Error Source: Microsoft Data Transformation Services (DTS) Package
Step Error Description:Logon failed: Unable to get the default MAPI Message Store due to MAPI error 285: You do not have permission to log on.
Step Error code: 80040480
Step Error Help File:sqldts80.hlp
Step Error Help Context ID:9100
Step Execution Started: 11/16/2006 10:10:02 AM
Step Execution Completed: 11/16/2006 10:10:02 AM
Total Step Execution Time: 0.578 seconds
Progress count in Step: 0
****************************************************************************************************