The Benefit From Dedicating A Log Drive

I thought I would create a drive L and use it exclusively for log files. Because log files are small files, I would reduce the cluster size by formating the drive using FAT16. Then I would restrict access to the system administrator, and I would would not share the drive. I would place all my log files there, and when the drive were 75% full, have tell it was time to archive 100% of its contents, so I would have a complete history of what happened on my system. Does anyone thinkthis is a good idea, or are there reasons I shouldn’t do this?