What is "multiple +12V rails" really: In most cases, multiple +12V rails are actually a single +12V source just split up into multiple +12V outputs each with a limited output capability. There are a few units that actually have two +12V sources, but these +12V outputs are either combined into one or split into four or more. To be clear: These REAL multiple +12V rail units are very rare and are all 1000W+ units (Enermax Galaxy, Topower/Tagan "Dual Engine", Ultra X3 1600W, etc.)
Do multiple +12V rails give me "better stability", etc: Nope. Not at all. The components that spilt up the +12V into multiple +12V rails doesn't do any kind of regulation, filtering, etc. They just split the source up into two, four, six, whatever +12V circuits and has a logic that "shuts down" the PSU if any of the circuits exceed a particular current.
So why split the +12V rails up?: Well.... 240VA+ is a lot of power. Some shorts aren't always detected by short circuit protection if there's enough resistance in the load. These "slow burn" shorts are enough to melt insulation and cause a small fire.
Why do some people FUD that single is better?: Because a while back, some PSU companies followed EPS12V specifications, which is for servers, not "gamers", for quad +12V rail PSU's and put ALL of the PCIe connectors on one of the +12V rails. The +12V rail was easily overloaded and caused the PSU to shut down. Instead of correcting the problem, they just did away with the splitting of +12V rails altogether. Multiple +12V rail "enthusiast" PSU's today have a +12V rail just for PCIe connectors or may even split four or six PCIe connectors up across two different +12V rails. The rails themselves are capable of far more power output than any PCIe graphics card would ever need.
But some people claim they can overclock better, etc. with a single +12V rail PSU: B.S. It's a placebo effect. The reality is that their previous PSU was defective or just wasn't as good as their current unit. If the old PSU was a Coolmax with four +12V rails and the new one is a PCP&C with one +12V rail, the new one isn't overclocking better because it's a single +12V rail unit. It's overclocking better because the old PSU was crap. It's only coincidental if the old PSU had multiple +12V rails and the current one has just one. The only "problem" with multiple +12V rails is that when they have a +12V rail overloaded, the PSU shuts down. Since there are no "limits" on single +12V rail PSU's, you can not overload the rails and cause them to shut down..... unless you're using a "too-small" PSU in the first place. Single +12V rails do not have better voltage regulation, do not have better ripple filtering, etc. unless the PSU is better to begin with.