When using a user-defined config and log path, I would recommend storing the config in a sub-folder, e.g. "C:\ProcessLasso\Config" and the logs in another sub-folder "C:\ProcessLasso\Logs". This is now the default for users who don't specify a static path for either (except it uses %appdata% of course).
The reason I suggest this is because, otherwise, every time the log is written to, it will trigger a file system change notification event on that folder and cause the configuration file to be checked to see if it changed. It won't be reloaded, so not much overhead, but a little. The granularity of file system change notifications in Windows is limited to folders, thus putting the config in it's own folder makes sure that only writes to it cause a change notification event.