No.
It was considered -historically- but logarithmic prediction makes simple DSP tasks MUCH more complicated mathmatically (with the exception of simple gain or loss calculations, which are altered from multiplication so addition... but try and do fourier analysis -as only a SINGLE example- and things get VERY much more complicated....)
Looking from the outside-in, and with simple goals, things would seem simpler, (and level-related distortions become effectively 'companded') but when you try and do 'real' DSP log is a colossal complexity burden, for a comparably insignificant benefit.
In addition, both R/2R and 1-bit converter topologies really don't lend themselves to logarithmic transfer.
CAN it be done? -Yes.
Has it been tried? -Yes.
Was there any significant benefit? -No; only clossal hindrances as soon as you try and move beyond storage/retrieval and simple gain calculations.
Does anyone still do it? -Not so far as I know, but you may which to ask Dan Lavry, Bruno Putzeys or one of the other people to whom I would bow in this field of endeavour.
Keith
Keith