Unless you are a student pilot, you never need to keep any logbook with you ever. However, you should keep record of your signatures and endorsements.

IMO, if you really wanted a "Master logbook" go the electronic route. There really no reason at all for you to copy your old logbook into another paper logbook. Seems like a gigantic waste of time that could be spent entering info into an electronic logbook. Electronic logbooks make filling out applications a LOT easier and there's no chance of math errors. Need your logbook? Just print it out! If anyone wants to see your signatures, just hand them the lil guy logbook.