[syslog-ng] Circular File Output

I have an idea I would like to run by everyone, but first I will provide a brief background of my situation. I am using syslog-ng on an embedded Linux device with a limited amount of resources. To this end, I must maintain very small log files. I have looked into log rotation, but do not wish to take the crond / logrotate approach. Ideally, it would be nice if Linux natively supported a cyclic file type so that I may limit the file size externally from syslog-ng. I have explored the idea of developing an external sever which will manage a circular file for me, but I feel it would be much more efficient to add this functionality to syslog-ng directly. Let me know if this sounds feasible.