Exactly. And I think that's what every shop that has discovered Splunk (or other such tools) has started doing. Sysadmins love log data in queryable format in a database. I'm the hugest advocate of this. I have some queries that took greater than 30 minutes when coming from a modest text files, that can be performed in under 50 msec when in a database.

But don't cripple me by shoving your primary log files into binary format so I can't quickly pull data out of them with awk/grep/sed when I need to quickly diagnose a local issue.