I am not sure if this is possible but I am sure some of the instability that people experience from time to time is due to the computer handling the log files and the traffic.
I generate over 800 MB of trigger logs not including the event los action logs etc. Sometimes you get insufficient virtual memory errors and other lock-ps. Also opening them to look at the bigger ones takes minutes each.
How about in "settings" having an optional maximum log size, (perhaps 10MB) and aftr that size is reached it saves that log with the suffix "_1,,,2,,,3 etc and starts a new one. You could even write a macro to glue them all back together at the end of the day (outsite MFP) for checking if that was more convenient. If size is a problem to query, could you restart the logs after a variable time int he settings, 1 hour, 2 hours etc.