Depending on how much you use your phone a day; the log file alog_events will eat about 3-5 MB of your internal storage a DAY! Most of of the other log files top out at 8MB, grow slower, but sequential numbers are added to them so they too will steal internal storage space over time (it just happens at a slower rate).
The alog_events file is located in the /data of the root directory, making it inaccessible for phones with stock ROM's in a non-rooted state.
I rooted my phone to delete the log files, but deleting them seemed to cause some other issues (mainly when I powered off the phone it would restart); I flashed to a custom ROM and haven't looked back; It would take less than 5 minutes to return to a stock ROM/non-rooted state if I chose to (it was the first thing I did after flashing a custom ROM was prove to myself I could go back to a stock state).
IMHO the MT is a fairly good piece of hardware, the stock OS much have been pushed out without proper testing (i.e., shutting off the log file generation) and VM has failed to correct the issue with an update to the OS.