BigT-65. You can save your logbook by going to the Documents Library in Windows, then My Documents and there you should find a folder titled Flight Simulator X Files. There you will find a copy of the logbook bin file and your saved flights (if any). copy these and put them in a safe place. Then when you reinstall FSX copy the files back to the same place and your original logbook will continue untouched.
I had problems with ORBX recently, for reasons I have yet to work out which resulted in corrupted files and hence texture displays being incorrect (trees in the ocean etc.). This meant a complete reinstall of FSX and ORBX and since then no issues. The old logbook and rewards went back just fine.
On a lighter note it gave me the opportunity to have a big clean out of everything FSX and start from scratch. Funnily enough I also because of not paying attention when I began the install FSX was put where MS wanted it to go in the Program Files directory and the system performance has improved significantly (Contrary to perceived wisdom throughout the sim community). For example, I now get FSX to load in less than two minutes, the aircraft menu in a flash and the sim runs just fine with ORBX and REX in fact it runs great now, so go figure. But thats the way it is staying.