I've written a Perl program to parse my /var/log/messages file and place certain data into a mySQL database.
I agree, any script that I write the performs a system function and is not part of the provisioning system usually goes in /root/bin
Seriously, the more secure approach as I understand it is to create a special-purpose user and have the process run by that user. For clarity's sake, the script would then live somewhere like
/home/Logcooker/bin
(I capitalize fake users, to avoid confusion in case I have to give a user account on this machine to someone strongly identified with their hobby as an amateur paper miller.)