""you can set the recovery model to 'SIMPLE'. That way you can have a 0 MB Log file. It also means you can not recover the database. Not a good trade off if you ask me.""
For databases using the simple recovery model, you can restore full or differential backups only. It is not possible to restore such a database to a given point in time — you can only restore it to the exact time when a full or differential backup occurred. Therefore, you will automatically lose any transactions made between the time of the most recent full/differential backup and the time of the failure. And depending on use this isn't always a big deal.