Shoutbox

Yes, your conversation logs are stored in a seperate directory. As such, they will not be removed if you uninstall MSN Messenger or Windows Live Messenger*.

Note: deleting something is not the same as uninstalling something. There is a massive difference between the two. Deleting is removing files from your hard disk. Uninstalling is much more and can include for example removing registry settings, setting old data back, changing other Windows settings, etc...