The primary motivation for using HPEL logging instead of basic logging is to improve performance. With basic logging, events are written to a number of different text files, which requires more CPU and RAM than it takes to write events to the HPEL logs. HPEL logging might improve the performance of applications, as it may take the applications less time to write the events to the HPEL log as compared to the basic logs.
The HPEL text.log has the same exact data as the HPEL binary logs. The HPEL text.log is only provided for convenience. The HPEL text.log can be disabled to improve performance.