This has always been an issue in every company I've worked for, and I've seen it done several different ways.
Since you want to use your user defined parameters, for each successive revision, you can make a new row, enter the live parameter callout in the cells of the new row, and then re-enter the previous row's information as dead text.
At my current employer, we use a workflow utility to capture comments, signatures, etc., so we just put the workflow number (which is also a user defined parameter in the model) in the rev description and omit the history altogether. If anyone wants to find the rev history of a drawing, they go to the workflow utility and search on the drawing number.