Separate regulated 12V supplies are far far better.
I don't beleive I've seen any testing, reasonable or not, that showed that a
split-rail PSU was any better or worse (voltage stability or ripple wise)
than a single-rail PSU. On the other hand, there are several dual-Xeon
boards that are known to not be stable with split-rail supplies once you hit
about 3GHz. From a purely theoretical perspective, a single large rail
handles load changes better, and as far as I can tell, safety regulations
are the main reason behind split rails.
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