Dave,
When the autoprobe log reaches the size specified in -Dcom.wily.autoprobe.logSizeInKB, it immediately stops logging and will not log anymore as long as the agent is running. Once the agent is restarted, the existing autoprobe log is renamed and the new one starts at 0 bytes.
Setting the log file to /dev/null has no side effects, you just won't be able to view it or give it to Support in the event of an issue and we request it to review.
I have never set it to blank in the profile, so not sure of the behavior, however I think there may be an internal default setting to go to "Autoprobe.log" in the <agent home>/logs directory.
Thanks,
Matt