diff --git a/yarn-project/simulator/src/avm/avm_simulator.ts b/yarn-project/simulator/src/avm/avm_simulator.ts
index f29e62e14f47..686de00cfcb6 100644
--- a/yarn-project/simulator/src/avm/avm_simulator.ts
+++ b/yarn-project/simulator/src/avm/avm_simulator.ts
@@ -205,7 +205,7 @@ export class AvmSimulator {
 
       const endTotalTime = performance.now();
       const totalTime = endTotalTime - startTotalTime;
-      this.log.debug(`Total execution time: ${totalTime}ms`);
+      this.log.debug(`Core AVM simulation took ${totalTime}ms`);
 
       // Return results for processing by calling context
       return results;
diff --git a/yarn-project/simulator/src/avm/avm_tree.ts b/yarn-project/simulator/src/avm/avm_tree.ts
index b971da3ee4ef..d1744acd68ad 100644
--- a/yarn-project/simulator/src/avm/avm_tree.ts
+++ b/yarn-project/simulator/src/avm/avm_tree.ts
@@ -7,6 +7,21 @@ import { type IndexedTreeLeafPreimage, type TreeLeafPreimage } from '@aztec/foun
 import { strict as assert } from 'assert';
 import cloneDeep from 'lodash.clonedeep';
 
+const MAX_TREE_DEPTH = 128;
+
+/**
+ * Helper function to precompute zero hashes
+ */
+async function preComputeZeroHashes(): Promise<Fr[]> {
+  let currentHash = Fr.zero();
+  const zeroHashes: Fr[] = [];
+  for (let i = 0; i < MAX_TREE_DEPTH; i++) {
+    zeroHashes.push(currentHash);
+    currentHash = await poseidon2Hash([currentHash, currentHash]);
+  }
+  return zeroHashes;
+}
+
 /****************************************************/
 /****** Structs Used by the AvmEphemeralForest ******/
 /****************************************************/
@@ -554,6 +569,8 @@ export class EphemeralAvmTree {
   private tree: Tree;
   public frontier: Fr[];
 
+  private static precomputedZeroHashes: Fr[] | undefined;
+
   private constructor(private root: Leaf, public leafCount: bigint, public depth: number, private zeroHashes: Fr[]) {
     this.tree = root;
     this.frontier = [];
@@ -565,13 +582,12 @@ export class EphemeralAvmTree {
     treeDb: MerkleTreeReadOperations,
     merkleId: MerkleTreeId,
   ): Promise<EphemeralAvmTree> {
-    let zeroHash = Fr.zero();
-    // Can probably cache this elsewhere
-    const zeroHashes = [];
-    for (let i = 0; i < depth; i++) {
-      zeroHashes.push(zeroHash);
-      zeroHash = await poseidon2Hash([zeroHash, zeroHash]);
+    let zeroHashes = EphemeralAvmTree.precomputedZeroHashes;
+    if (zeroHashes === undefined) {
+      zeroHashes = await preComputeZeroHashes();
+      EphemeralAvmTree.precomputedZeroHashes = zeroHashes;
     }
+    const zeroHash = zeroHashes[depth - 1];
     const tree = new EphemeralAvmTree(Leaf(zeroHash), forkedLeafCount, depth, zeroHashes);
     await tree.initializeFrontier(treeDb, merkleId);
     return tree;
diff --git a/yarn-project/simulator/src/avm/journal/journal.ts b/yarn-project/simulator/src/avm/journal/journal.ts
index 3dd20c52eb4b..c7ed7e7b7586 100644
--- a/yarn-project/simulator/src/avm/journal/journal.ts
+++ b/yarn-project/simulator/src/avm/journal/journal.ts
@@ -144,16 +144,16 @@ export class AvmPersistableStateManager {
    * @param value - the value being written to the slot
    */
   public async writeStorage(contractAddress: AztecAddress, slot: Fr, value: Fr, protocolWrite = false): Promise<void> {
-    this.log.debug(`Storage write (address=${contractAddress}, slot=${slot}): value=${value}`);
+    this.log.trace(`Storage write (address=${contractAddress}, slot=${slot}): value=${value}`);
     const leafSlot = await computePublicDataTreeLeafSlot(contractAddress, slot);
-    this.log.debug(`leafSlot=${leafSlot}`);
+    this.log.trace(`leafSlot=${leafSlot}`);
     // Cache storage writes for later reference/reads
     this.publicStorage.write(contractAddress, slot, value);
 
     if (this.doMerkleOperations) {
       const result = await this.merkleTrees.writePublicStorage(leafSlot, value);
       assert(result !== undefined, 'Public data tree insertion error. You might want to disable doMerkleOperations.');
-      this.log.debug(`Inserted public data tree leaf at leafSlot ${leafSlot}, value: ${value}`);
+      this.log.trace(`Inserted public data tree leaf at leafSlot ${leafSlot}, value: ${value}`);
 
       const lowLeafInfo = result.lowWitness;
       const lowLeafPreimage = result.lowWitness.preimage as PublicDataTreeLeafPreimage;
@@ -195,9 +195,9 @@ export class AvmPersistableStateManager {
    */
   public async readStorage(contractAddress: AztecAddress, slot: Fr): Promise<Fr> {
     const { value, cached } = await this.publicStorage.read(contractAddress, slot);
-    this.log.debug(`Storage read  (address=${contractAddress}, slot=${slot}): value=${value}, cached=${cached}`);
+    this.log.trace(`Storage read  (address=${contractAddress}, slot=${slot}): value=${value}, cached=${cached}`);
     const leafSlot = await computePublicDataTreeLeafSlot(contractAddress, slot);
-    this.log.debug(`leafSlot=${leafSlot}`);
+    this.log.trace(`leafSlot=${leafSlot}`);
 
     if (this.doMerkleOperations) {
       // Get leaf if present, low leaf if absent
@@ -212,8 +212,8 @@ export class AvmPersistableStateManager {
       const leafPath = await this.merkleTrees.getSiblingPath(MerkleTreeId.PUBLIC_DATA_TREE, leafIndex);
       const leafPreimage = preimage as PublicDataTreeLeafPreimage;
 
-      this.log.debug(`leafPreimage.slot: ${leafPreimage.slot}, leafPreimage.value: ${leafPreimage.value}`);
-      this.log.debug(
+      this.log.trace(`leafPreimage.slot: ${leafPreimage.slot}, leafPreimage.value: ${leafPreimage.value}`);
+      this.log.trace(
         `leafPreimage.nextSlot: ${leafPreimage.nextSlot}, leafPreimage.nextIndex: ${Number(leafPreimage.nextIndex)}`,
       );
 
@@ -223,7 +223,7 @@ export class AvmPersistableStateManager {
           `Value mismatch when performing public data read (got value: ${value}, value in ephemeral tree: ${leafPreimage.value})`,
         );
       } else {
-        this.log.debug(`Slot has never been written before!`);
+        this.log.trace(`Slot has never been written before!`);
         // Sanity check that the leaf slot is skipped by low leaf when it doesn't exist
         assert(
           leafPreimage.slot.toBigInt() < leafSlot.toBigInt() &&
@@ -250,7 +250,7 @@ export class AvmPersistableStateManager {
    */
   public async peekStorage(contractAddress: AztecAddress, slot: Fr): Promise<Fr> {
     const { value, cached } = await this.publicStorage.read(contractAddress, slot);
-    this.log.debug(`Storage peek  (address=${contractAddress}, slot=${slot}): value=${value},  cached=${cached}`);
+    this.log.trace(`Storage peek  (address=${contractAddress}, slot=${slot}): value=${value},  cached=${cached}`);
     return Promise.resolve(value);
   }
 
@@ -266,7 +266,7 @@ export class AvmPersistableStateManager {
   public async checkNoteHashExists(contractAddress: AztecAddress, noteHash: Fr, leafIndex: Fr): Promise<boolean> {
     const gotLeafValue = (await this.worldStateDB.getCommitmentValue(leafIndex.toBigInt())) ?? Fr.ZERO;
     const exists = gotLeafValue.equals(noteHash);
-    this.log.debug(
+    this.log.trace(
       `noteHashes(${contractAddress})@${noteHash} ?? leafIndex: ${leafIndex} | gotLeafValue: ${gotLeafValue}, exists: ${exists}.`,
     );
     if (this.doMerkleOperations) {
@@ -306,7 +306,7 @@ export class AvmPersistableStateManager {
    * @param noteHash - the siloed unique hash to write
    */
   public async writeUniqueNoteHash(noteHash: Fr): Promise<void> {
-    this.log.debug(`noteHashes += @${noteHash}.`);
+    this.log.trace(`noteHashes += @${noteHash}.`);
 
     if (this.doMerkleOperations) {
       // Should write a helper for this
@@ -325,7 +325,7 @@ export class AvmPersistableStateManager {
    * @returns exists - whether the nullifier exists in the nullifier set
    */
   public async checkNullifierExists(contractAddress: AztecAddress, nullifier: Fr): Promise<boolean> {
-    this.log.debug(`Checking existence of nullifier (address=${contractAddress}, nullifier=${nullifier})`);
+    this.log.trace(`Checking existence of nullifier (address=${contractAddress}, nullifier=${nullifier})`);
     const siloedNullifier = await siloNullifier(contractAddress, nullifier);
     const [exists, leafOrLowLeafPreimage, leafOrLowLeafIndex, leafOrLowLeafPath] = await this.getNullifierMembership(
       siloedNullifier,
@@ -367,7 +367,7 @@ export class AvmPersistableStateManager {
     ]
   > {
     const [exists, isPending, _] = await this.nullifiers.checkExists(siloedNullifier);
-    this.log.debug(`Checked siloed nullifier ${siloedNullifier} (exists=${exists}), pending=${isPending}`);
+    this.log.trace(`Checked siloed nullifier ${siloedNullifier} (exists=${exists}), pending=${isPending}`);
 
     if (this.doMerkleOperations) {
       // Get leaf if present, low leaf if absent
@@ -386,7 +386,7 @@ export class AvmPersistableStateManager {
       );
 
       if (exists) {
-        this.log.debug(`Siloed nullifier ${siloedNullifier} exists at leafIndex=${leafIndex}`);
+        this.log.trace(`Siloed nullifier ${siloedNullifier} exists at leafIndex=${leafIndex}`);
       } else {
         // Sanity check that the leaf value is skipped by low leaf when it doesn't exist
         assert(
@@ -407,7 +407,7 @@ export class AvmPersistableStateManager {
    * @param nullifier - the unsiloed nullifier to write
    */
   public async writeNullifier(contractAddress: AztecAddress, nullifier: Fr) {
-    this.log.debug(`Inserting new nullifier (address=${nullifier}, nullifier=${contractAddress})`);
+    this.log.trace(`Inserting new nullifier (address=${nullifier}, nullifier=${contractAddress})`);
     const siloedNullifier = await siloNullifier(contractAddress, nullifier);
     await this.writeSiloedNullifier(siloedNullifier);
   }
@@ -417,7 +417,7 @@ export class AvmPersistableStateManager {
    * @param siloedNullifier - the siloed nullifier to write
    */
   public async writeSiloedNullifier(siloedNullifier: Fr) {
-    this.log.debug(`Inserting siloed nullifier=${siloedNullifier}`);
+    this.log.trace(`Inserting siloed nullifier=${siloedNullifier}`);
 
     if (this.doMerkleOperations) {
       // Maybe overkill, but we should check if the nullifier is already present in the tree before attempting to insert
@@ -447,13 +447,13 @@ export class AvmPersistableStateManager {
         // Cache pending nullifiers for later access
         await this.nullifiers.append(siloedNullifier);
         // We append the new nullifier
-        this.log.debug(
+        this.log.trace(
           `Nullifier tree root before insertion ${await this.merkleTrees.treeMap
             .get(MerkleTreeId.NULLIFIER_TREE)!
             .getRoot()}`,
         );
         const appendResult = await this.merkleTrees.appendNullifier(siloedNullifier);
-        this.log.debug(
+        this.log.trace(
           `Nullifier tree root after insertion ${await this.merkleTrees.treeMap
             .get(MerkleTreeId.NULLIFIER_TREE)!
             .getRoot()}`,
@@ -496,7 +496,7 @@ export class AvmPersistableStateManager {
   ): Promise<boolean> {
     const valueAtIndex = (await this.worldStateDB.getL1ToL2LeafValue(msgLeafIndex.toBigInt())) ?? Fr.ZERO;
     const exists = valueAtIndex.equals(msgHash);
-    this.log.debug(
+    this.log.trace(
       `l1ToL2Messages(@${msgLeafIndex}) ?? exists: ${exists}, expected: ${msgHash}, found: ${valueAtIndex}.`,
     );
 
@@ -522,7 +522,7 @@ export class AvmPersistableStateManager {
    * @param content - Message content.
    */
   public writeL2ToL1Message(contractAddress: AztecAddress, recipient: Fr, content: Fr) {
-    this.log.debug(`L2ToL1Messages(${contractAddress}) += (recipient: ${recipient}, content: ${content}).`);
+    this.log.trace(`L2ToL1Messages(${contractAddress}) += (recipient: ${recipient}, content: ${content}).`);
     this.trace.traceNewL2ToL1Message(contractAddress, recipient, content);
   }
 
@@ -532,7 +532,7 @@ export class AvmPersistableStateManager {
    * @param log - log contents
    */
   public writePublicLog(contractAddress: AztecAddress, log: Fr[]) {
-    this.log.debug(`PublicLog(${contractAddress}) += event with ${log.length} fields.`);
+    this.log.trace(`PublicLog(${contractAddress}) += event with ${log.length} fields.`);
     this.trace.tracePublicLog(contractAddress, log);
   }
 
@@ -542,7 +542,7 @@ export class AvmPersistableStateManager {
    * @returns the contract instance or undefined if it does not exist.
    */
   public async getContractInstance(contractAddress: AztecAddress): Promise<SerializableContractInstance | undefined> {
-    this.log.debug(`Getting contract instance for address ${contractAddress}`);
+    this.log.trace(`Getting contract instance for address ${contractAddress}`);
     const instanceWithAddress = await this.worldStateDB.getContractInstance(contractAddress);
     const exists = instanceWithAddress !== undefined;
 
@@ -568,7 +568,7 @@ export class AvmPersistableStateManager {
 
     if (exists) {
       const instance = new SerializableContractInstance(instanceWithAddress);
-      this.log.debug(
+      this.log.trace(
         `Got contract instance (address=${contractAddress}): exists=${exists}, instance=${jsonStringify(instance)}`,
       );
       if (this.doMerkleOperations) {
diff --git a/yarn-project/simulator/src/public/public_tx_context.ts b/yarn-project/simulator/src/public/public_tx_context.ts
index af2b5c76abdd..a6e01d5115ff 100644
--- a/yarn-project/simulator/src/public/public_tx_context.ts
+++ b/yarn-project/simulator/src/public/public_tx_context.ts
@@ -162,7 +162,7 @@ export class PublicTxContext {
    * NOTE: this does not "halt" the entire transaction execution.
    */
   revert(phase: TxExecutionPhase, revertReason: SimulationError | undefined = undefined, culprit = '') {
-    this.log.debug(`${TxExecutionPhase[phase]} phase reverted! ${culprit} failed with reason: ${revertReason}`);
+    this.log.warn(`${TxExecutionPhase[phase]} phase reverted! ${culprit} failed with reason: ${revertReason}`);
 
     if (revertReason && !this.revertReason) {
       // don't override revertReason
@@ -170,7 +170,7 @@ export class PublicTxContext {
       this.revertReason = revertReason;
     }
     if (phase === TxExecutionPhase.SETUP) {
-      this.log.debug(`Setup phase reverted! The transaction will be thrown out.`);
+      this.log.warn(`Setup phase reverted! The transaction will be thrown out.`);
       if (revertReason) {
         throw revertReason;
       } else {
diff --git a/yarn-project/simulator/src/public/side_effect_trace.ts b/yarn-project/simulator/src/public/side_effect_trace.ts
index 20ef38ec2111..bd067e240b3b 100644
--- a/yarn-project/simulator/src/public/side_effect_trace.ts
+++ b/yarn-project/simulator/src/public/side_effect_trace.ts
@@ -127,7 +127,6 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     /** We need to track the set of class IDs used for bytecode retrieval to deduplicate and enforce limits. */
     private gotBytecodeFromClassIds: UniqueClassIds = new UniqueClassIds(),
   ) {
-    this.log.debug(`Creating trace instance with startSideEffectCounter: ${startSideEffectCounter}`);
     this.sideEffectCounter = startSideEffectCounter;
     this.avmCircuitHints = AvmExecutionHints.empty();
   }
@@ -215,7 +214,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     path: Fr[] = emptyPublicDataPath(),
   ) {
     this.avmCircuitHints.publicDataReads.items.push(new AvmPublicDataReadTreeHint(leafPreimage, leafIndex, path));
-    this.log.debug(
+    this.log.trace(
       `Tracing storage read (address=${contractAddress}, slot=${slot}): value=${value} (counter=${this.sideEffectCounter})`,
     );
     this.incrementSideEffectCounter();
@@ -265,7 +264,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
       new AvmPublicDataWriteTreeHint(readHint, newLeafPreimage, insertionPath),
     );
 
-    this.log.debug(
+    this.log.trace(
       `Traced public data write (address=${contractAddress}, slot=${slot}): value=${value} (counter=${this.sideEffectCounter}, isProtocol:${protocolWrite})`,
     );
     this.incrementSideEffectCounter();
@@ -282,6 +281,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     // New Hinting
     this.avmCircuitHints.noteHashReads.items.push(new AvmAppendTreeHint(leafIndex, noteHash, path));
     // NOTE: counter does not increment for note hash checks (because it doesn't rely on pending note hashes)
+    this.log.trace(`Tracing note hash check (counter=${this.sideEffectCounter})`);
   }
 
   public traceNewNoteHash(noteHash: Fr, leafIndex: Fr = Fr.zero(), path: Fr[] = emptyNoteHashPath()) {
@@ -290,8 +290,8 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     }
 
     this.noteHashes.push(new NoteHash(noteHash, this.sideEffectCounter));
-    this.log.debug(`NEW_NOTE_HASH cnt: ${this.sideEffectCounter}`);
     this.avmCircuitHints.noteHashWrites.items.push(new AvmAppendTreeHint(leafIndex, noteHash, path));
+    this.log.trace(`Tracing new note hash (counter=${this.sideEffectCounter})`);
     this.incrementSideEffectCounter();
   }
 
@@ -305,7 +305,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     this.avmCircuitHints.nullifierReads.items.push(
       new AvmNullifierReadTreeHint(lowLeafPreimage, lowLeafIndex, lowLeafPath),
     );
-    this.log.debug(`NULLIFIER_EXISTS cnt: ${this.sideEffectCounter}`);
+    this.log.trace(`Tracing nullifier check (counter=${this.sideEffectCounter})`);
     this.incrementSideEffectCounter();
   }
 
@@ -324,7 +324,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
 
     const lowLeafReadHint = new AvmNullifierReadTreeHint(lowLeafPreimage, lowLeafIndex, lowLeafPath);
     this.avmCircuitHints.nullifierWrites.items.push(new AvmNullifierWriteTreeHint(lowLeafReadHint, insertionPath));
-    this.log.debug(`NEW_NULLIFIER cnt: ${this.sideEffectCounter}`);
+    this.log.trace(`Tracing new nullifier (counter=${this.sideEffectCounter})`);
     this.incrementSideEffectCounter();
   }
 
@@ -337,6 +337,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     path: Fr[] = emptyL1ToL2MessagePath(),
   ) {
     this.avmCircuitHints.l1ToL2MessageReads.items.push(new AvmAppendTreeHint(msgLeafIndex, msgHash, path));
+    this.log.trace(`Tracing l1 to l2 message check (counter=${this.sideEffectCounter})`);
   }
 
   public traceNewL2ToL1Message(contractAddress: AztecAddress, recipient: Fr, content: Fr) {
@@ -348,7 +349,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     this.l2ToL1Messages.push(
       new L2ToL1Message(recipientAddress, content, this.sideEffectCounter).scope(contractAddress),
     );
-    this.log.debug(`NEW_L2_TO_L1_MSG cnt: ${this.sideEffectCounter}`);
+    this.log.trace(`Tracing new l2 to l1 message (counter=${this.sideEffectCounter})`);
     this.incrementSideEffectCounter();
   }
 
@@ -362,7 +363,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     }
     const publicLog = new PublicLog(contractAddress, padArrayEnd(log, Fr.ZERO, PUBLIC_LOG_DATA_SIZE_IN_FIELDS));
     this.publicLogs.push(publicLog);
-    this.log.debug(`NEW_PUBLIC_LOG cnt: ${this.sideEffectCounter}`);
+    this.log.trace(`Tracing new public log (counter=${this.sideEffectCounter})`);
     this.incrementSideEffectCounter();
   }
 
@@ -387,7 +388,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
         membershipHint,
       ),
     );
-    this.log.debug(`CONTRACT_INSTANCE cnt: ${this.sideEffectCounter}`);
+    this.log.trace(`Tracing contract instance retrieval (counter=${this.sideEffectCounter})`);
     this.incrementSideEffectCounter();
   }
 
@@ -432,7 +433,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     // Since the bytecode hints are keyed by class ID, we need to hint the instance separately
     // since there might be multiple instances hinted for the same class ID.
     this.avmCircuitHints.contractInstances.items.push(instance);
-    this.log.debug(
+    this.log.trace(
       `Tracing contract instance for bytecode retrieval: exists=${exists}, instance=${jsonStringify(contractInstance)}`,
     );
 
@@ -447,7 +448,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     // To do so, the circuit needs to know the class ID in the
     if (this.gotBytecodeFromClassIds.has(contractInstance.contractClassId.toString())) {
       // this ensures there are no duplicates
-      this.log.debug(
+      this.log.trace(
         `Contract class id ${contractInstance.contractClassId.toString()} already exists in previous hints`,
       );
       return;
@@ -470,7 +471,7 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
       );
     }
 
-    this.log.debug(`Tracing bytecode & contract class for bytecode retrieval: class=${jsonStringify(contractClass)}`);
+    this.log.trace(`Tracing bytecode & contract class for bytecode retrieval: class=${jsonStringify(contractClass)}`);
     this.avmCircuitHints.contractBytecodeHints.set(
       contractInstance.contractClassId.toString(),
       new AvmContractBytecodeHints(bytecode, instance, contractClass),
@@ -492,7 +493,6 @@ export class SideEffectTrace implements PublicSideEffectTraceInterface {
     /** Did the call revert? */
     _reverted: boolean,
   ) {
-    this.log.debug(`Tracing enqueued call`);
     // TODO(4805): check if some threshold is reached for max enqueued or nested calls (to unique contracts?)
     this.enqueuedCalls.push(publicCallRequest);
     this.avmCircuitHints.enqueuedCalls.items.push(new AvmEnqueuedCallHint(publicCallRequest.contractAddress, calldata));