One table or multiple tables?

[Mark]

We would like to track all of our users interactions ordered by time. 
Product views, searches, logins, etc. There are (at least) two ways of 
accomplishing this:

We could use one table 'user_logs' and have keys in the format of. 
USER_ID/TYPE/TIMESTAMP. Type could be (product view, search, login, etc)

Or we could have multiple tables for each type.. UserProductLogs, 
UserSearchLogs, etc.

What are the pros/cons of each strategy and which one do you think I 
should employ?

- M