What's the purpose of log-log plots?
They make relationships of the form y = cx^m more obvious, since if Y = log y, X = log x, and C = log c, the relationship is Y = mX + C, which gives a straight line plot (whereas the relationship between x and y is usually far from linear).
(Similarly, if y = cb^x, substituting Y = log y, B = log b and C = log c gives Y = Bx + C, which is again a linear relationship.)
Some care should be taken in using logarithmic plots, since apparently small deviations from a straight line in such plots may correspond to quite large errors in the original values. Also, assessing the Y-axis intercept (the value of C) often requires extrapolating way beyond the range of the data used, giving an unreliable value for C, and so when c is calculated from C, a quite inaccurate value may be obtained.
Due to this, you should think carefully before doing interpolation or extrapolation on a log-log plot.
Comment
The above immediately makes the mathematical hackles rise for two reasons.
If values of x (and hence X) can be predetermined and corresponding values of y (and hence Y) determined by experiment, it is conventional (subject to certain conditions) to minimize the sum of the squares of the Y residuals. In addition, it is conventional to choose X values that are uniformly spaced (or approximately so) within the applicable range. Different values for m and C are obtained if Y = mX + C is rearranged (assuming m is not zero) as X = Y/m - C/m and one then treats Y as the independent variable and chooses m and C so as to minimize the sum of the squares of the X residuals (unless the residuals can all be zero). These conventions are easily found in school text books and examination questions, so I assume they can be theoretically justified, but I am not a statistician and don't have a detailed explanation or a reference to one. The Gauss-Markov theorem (which states that in a linear model in which the errors have expectation zero and are uncorrelated and have equal variances, the best linear unbiased estimators of the coefficients are the least-squares estimators) is relevant, but not a complete explanation. Note that if both X and Y are experimentally measured, neither procedure can be regarded as best. A further convention is to view the (X,Y) points on a scatter diagram, so as to notice their overall pattern and spot any outliers which might be due to factors such as faulty recording of data, bad experimental procedures, etc. In addition, one can try to determine whether the conditions for the Gauss-Markov theorem apply - if they don't, it might be appropriate to minimize a weighted average of the squares of the residuals. If the reader is really interested in such matters, try looking for further information about the Gauss-Markov theorem or about non-linear regression.
See http://mathforum.org/library/drmath/view/55520.html, http://mathforum.org/library/drmath/sets/high_logs.html