Yep I've stopped my events from logging with no obvious ill effects.
Posted from my CrackBerry at wapforums.crackberry.com
Correct GM, so do I. The event log is simply a diagnostic tool that can be completely removed from the OS if you want it too. No ill effects will happen. If you want it to stop logging, hit Alt LGLG and clear event log, then uncheck ALL of the boxes by hitting menu button>toggle setting. That's it...
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