This paper proposes optimizations of the methods and parameters used in both mathematical approximation and hardware design for logarithmic number system (LNS) arithmetic. First, we introduce a general polynomial approximation approach with an adaptive divide-in-halves segmentation method for evaluation of LNS arithmetic functions. Second, we develop a library generator that automatically generates optimized LNS arithmetic units with a wide bit-width range from 21 to 64 bits, to support LNS application development and design exploration. The basic arithmetic units are tested on practical FPGA boards as well as software simulation. When compared with existing LNS designs, our generated units provide in most cases 6% to 37% reduction in area and 20% to 50% reduction in latency. The key challenge for LNS remains on the application level. We show the performance of LNS versus floating-point for realistic applications: digital sine/cosine waveform generator, matrix multiplication and radiative Monte Carlo simulation. Our infrastructure for fast prototyping LNS FPGA applications allows us to efficiently study LNS number representation and its tradeoffs in speed and size when compared with floating-point designs.