Q:

Database design: one large table versus several smaller tables

I have to create a database to store information being sent and received to / from a 3rd party web service portal. There are about 150 fields of information to be sent though I can remove about 50 of those fields by normalising (there are three sets addresses that can be saved in an address table, for example). However, this still leaves a table that could potentially have 100 columns.
I've come up with two ways of handling this though I'm not sure which to use:
1. Have a table with 100 columns and three references to an address table.
2. Break it down into maybe 15-20 separate dedicated tables.
Option 1 seems the quickest as it involves the fewest joins but the idea of a table with 100 columns doesn't feel right.
Option 2 feels better and would break things down in to more managable chunks but it won't save any database space and will increase the number of joins. Pretty much all the columns in the database will have a value and I cannot normalise these columns any further.
My question is, in this situation is it acceptable to have a table with c.100 columns in it or should I try and break it down over several tables for presentation?
Please note: The table structure will not change over the course of it's useage, a new database would be created for a new version of the web service portal. I have no control over the web service data structure.
Edit: @Oded's answer below has made me think a bit more about how the data will be accessed; it will really only be accessed in whole and not in part. I wouldn't for example, need to return columns 5-20 on a regular basis.
Answer: I accepted Oded's answer based on the comments after he posted it helped me make my mind up and I decided to go with option 1. As the data is accessed in full then having one table seems the better solution. If, for example, I regularly wanted to access columns 5-20 rather than the full table row then I'd see about breaking it up into separate tables for performance reasons. 

A:

Speaking from a relational purist point of view - first, there is nothing against having 100 columns in a table, if they are related. The point here is that if after normalizing you still have 100 columns, that's OK.
But you should normalize, and in the process you may very well end up with 15-20 separate dedicated tables, which most relational database professionals would agree is a better design (avoid data duplication with the update/delete issues associated, smaller data footprint etc...).
Pragmatically, however, if there is a measurable performance problem, it may be sensible to denormalize your design for performance benefit. The key here - measureable. Don't optimize before you have an actual problem.
In that respect, I'd say you should go with the set of 15-20 tables as an initial design.

A:

From MSDN:Maximum Capacity Specifications for SQL Server :

Columns per nonwide table:    1,024
Columns per wide table:       30,000

So I think 100 columns is ok in your case. And also maybe you need to note(from same link):

Columns per primary key:        16

Of course this is only in the case if need data only as Log for a service.
If after reading from service you need to maintain data -> then normalising seems better...

