<p>I am considering log-shipping of <a href="http://www.postgresql.org/docs/8.2/static/runtime-config-wal.html" rel="noreferrer">Write Ahead Logs (WAL)</a> in PostgreSQL to create a warm-standby database. However I have one table in the database that receives a huge amount of INSERT/DELETEs each day, but which I don't care about protecting the data in it. To reduce the amount of WALs produced I was wondering, <strong>is there a way to prevent any activity on one table from being recorded in the WALs?</strong></p>

Unfortunately, I don't believe there is. The WAL logging operates on the page level, which is much lower than the table level and doesn't even know which page holds data from which table. In fact, the WAL files don't even know which pages belong to which
database
.
You might consider moving your high activity table to a completely different instance of PostgreSQL. This seems drastic, but I can't think of another way off the top of my head to avoid having that activity show up in your WAL files.