Originally posted by: Navid
If everything else is the same and the only difference is single rail versus dual rail (for the same total max current and power), I would prefer the single rail.
The only disadvantage of the single-rail would be fire/spark hazard if you are not careful!
If the dual rail satisfies the ATX spec to the letter, it will clamp the current on any of those two rails to 20A limiting the power output on any of those two rails to 240W while the single rail could allow twice that much power. So an accidental short circuit in your system while working on it would generate a spark twice as powerful with the single rail PSU.
It gets really complicated though since first of all, not every dual rail PSU really satisfies the spec to the letter and secondly, there are no two identical PSUs with the only difference being the number of rails. There are always many more parameters that are different between two power supplies.