I just checked my machine and the largest wallet directory I've seen is less than 100 MB.
We store:
+ the last four rolling back ups (every few minutes)
+ 60 of the zip backups - these are spread over time so you should get (roughly) weekly backups over a year.
+ log files are rolled daily and zipped. I think we keep the last week or two weeks - cannot remember.
Unless you have a very old machine you won't notice it.
We haven't put in support in MultiBit HD for deleting wallets as we found it was a major cause of heartache/ support for MultiBit Classic.
MultiBit HD is more like an automatic car than a manual and we don't recommend moving stuff about at the file level.
(For instance, you can easily lose password recovery and all the exchange rate info which you will need for your tax returns).
Electrum is probably a better choice if you want to "get your hands dirty" (i.e. tweaks things at the file level) as it also has a console.
I appreciate the fast reply Jim.
Thank you for explaining to me how this stuff works. I use Multibit HD as a everyday wallet and was indeed used to wallets like Electrum on which I have much more freedom.
But hey, everything deserves a shot and I will continue to use this wallet due to the nice GUI mostly .
Sincerely,
Jake