RE truncating the Logs - if you're going to go to the effort of truncating 'em - why not just set the database to simple logging and be done with it?

RE Dave comment's about AutoShrink - Dave - can you not set up an alert+job to backup the transaction log when it get's to (say) 80% capacity? That way you don't have the CPU hit of a log file that is constantly growing and shrinking...