My DS8 has had reading logs for three years - since he started school. He also has to write about his reading weekly. If I remember correctly, there used to be a read aloud requirement where he read to us for some of the period. Now he has a read for 30 minute requirement and we have to sign off on it. I understand the point of it for kids who would not read anyway, but my DS is not one of them - he would read without the assignment (but not so much the writing part).
I have always enjoyed reading aloud to him but he prefers to read to himself now - this just changed a few months ago. We still read together at night before bed, but he reads his book while I read mine. I have actually read 5 books in the last few months.