The binary logs are used in crash recovery and replication. Assuming they are enabled, the two main applicable settings regarding flushing are:
- innodb_flush_log_at_trx_commit=2
- sync_binlog=0
Those settings favor speed over "guaranteed" reliability because they allow the OS to delay in flushing the buffers to disk.
If you are running on a cheap disk controller (most people are), flushing the logs out on every commit is very slow. On a site that does a lot of writes, I've seen page execution time drop 10x-100x! It's easy to run your own benchmarks and see how it affects you.
To be very clear, if you want maximum recovery benefits, you must set both of those values to 1. As configured above, you may lose a few seconds of data in the case of a system crash. For some sites, that is not acceptable. For blogs and forums, it probably is a worthwhile trade-off.
You can read more about the settings here:
http://dev.mysql.com/doc/refman/5.0/en/innodb-parameters.html
There are many memory related options like 'innodb_buffer_pool_size' to configure as well. A search on MySQL InnoDB tuning should help out.