Does postgresql support transaction logs

I am evaluation postgresql as a replacement for an database
that supports almost real-time measurements. The current
database (Sybase) has transaction logs that can be dumped
periodically during the day, to be used for recovery support.
They are applied to the database dump to bring the data
back up-to-the-minute of the last transaction log dump.

I have searched the archives and found older messages referencing
transaction logs and postgresql, as in, "postgresql does not
support transaction logs now but we hope to in the future".

Has the furture arrived. Does the most recent version of postgresql
support dumpable and appliable transaction logs?

Thank you,

--
Kelley Trombly-Freytag
Fermilab
kfreytag@fnal.gov