I just got notice of this article by Paul S Randal. It was articles like this and our own observations about log growth that triggered me to write this in the first place.

What floored me is when the scripts presented in this thread actually worked. So If you have a good full backup and all the log backups since that point you can get good recovery. If you take full backups all the time in full mode and do so frequently enough (your tolerance for data loss dictates frequency) you also can get good recovery. This leaves the log growth thing.

Lastly once you decide that you need a COPY_ONLY backup in 2005 you will have trouble doing it with the GUI. This then shows you how to get round that.