My database version is

Oracle Database 11g Enterprise Edition Release - 64bit Production
PL/SQL Release - Production
CORE      Production
TNS for Linux: Version - Production
NLSRTL Version - Production
My os version is

Linux damdat01 2.6.18-128.7.1.el5 #1 SMP Wed Aug 19 04:00:49 EDT 2009 x86_64 x86_64 x86_64 GNU/Linux
My database is OLP system.

My question is what are the advantages and disadvantages having one single tablespace versus multiple tablespace?

Easy to maintain when you have single tablespace. but hard to track the IO issues.

Any other input from any one? Please let me know.