The only purpose (IMO) for setting Maximum File Growth is to limit how much the transaction log can grow in total. Then you can set alerts to tell you when it's reaching that point. However, IMO, that's too late...you should already be aware of how the tlog is growing and do what is necessary (including getting more drives) before all the space is 'consumed'.
I allow my tlog and data files to grow automatically by 2 GB and just keep an eye on their sizes. As needed, rarely, I will shrink the files. I normally only need to do this after a DBCC INDEXDEFRAG. Otherwise, I just leave them alone. Of course, with 900+ GB of space, I do have some room for growth.
-SQLBill
Posting advice: FAQ481-4875