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Assuming you're playing the same standard of game, should there be any profitability difference between four-tabling $25 buy-in NL games and single-tabling $100 buy-in? I can see one advantage to single-tabling - the ability to concentrate and get to know your opponents styles, read the table better etc.
Interested in any thoughts
The variance in one table should be much bigger, because you are playing a 1/4 of the hands
but over the long term it should be equivalent?
I'm not a multi table guy, with that grain of salt I say it depends on your style - if you're an aggresive player who is in a lot of hands, probably bettter to stay at one table with a higher buyin - also generally I think aggresive play is better at the higher buy ins because the players have enough sense to fold weak hands.
On the other hand, if you only play big PPs/AK I have to think you're better off on multiple tables, since you don't figure to be making nearly as many tough decisions.
(Stating the obvious here)
Multitabling also gives you more raked hands if you're bonus whoring, which you should always be looking to do if you have the BR for the limits it requires.