there is more than one 'IOS' from Cisco there is the IOS that runs on their routers(the one most people think of and the one that runs on some of their switches(derrived from original Kalpana switch interface. There are also other non-IOS pieces of software that often get reffered to as IOS, such as the Altiga derrived software that runs on their VPN Concentrators. There are also some nifty devices that run both the Kalpana and the Cisco IOS. these wonderful devices are usually large switches that have layer 3 routing modules in them. the layer 3 board is actually a router that talks with the switch using virtual gigabit uplinks.
speaking of fun with the debug command in the IOS, i accidentally brought a router to its knees today buy debugging an IP NAT session. someone had configured the router to log at the debug level to a syslog server that was off of one of the NATed interfaces. i made the mistake of doing a debug ip nat detail which really pissed off happy mr. router. fortunately for me the ios is smart enough to kill off processes that take an inordinate amount of cpu time. that will teach me to try to solve an ip nat problem at 5:00AM after staying up all night