What is output at the different MSBuild output verbosity levels?

From docs.microsoft.com

Verbosity Settings

The following table shows how the log verbosity (column values) affects which types of message (row values) are logged.

There exists the same question on social.msdn:

Quiet: only shows the result of your build.
Minimal: shows some configurations of your msbuild, and the CSC task.
Normal: This will show all the targets and its mainly steps.
Details: In addition to normal, this flag shows the task and it's implementation within the each target.
Diagnostic: Contains all the information that a MSBuild need and produce, it's switches, parameteres, prerequisites and etc. The input parameter of the target and task, and also contains the value of the input and output parameter, the detail steps of the task execution. The time execution for each task.

See how default logger uses verbosity here.