As I always say, there are no right answers, only wrong answers. As long as we don't get a wrong answer, we are okay.
A war should contain a set of common, related components - just like in a large
Servlet & JSP application. If you have a bunch of HR or Accounting portlets, it makes sense to deploy them in a single war. Furthermore, being in a single war makes it possible to have then share information through the PortletSession's application scope.
If you have IBM portal, look at all the portlets IBM provides that are in a common, single, war. I think Lotus Notes has like 10 portles that provide Notes functionality, all of which are sensibly packaged in a single war. After all, it' be annoying to have to deploy 10 war files to get 10 commonly related portlets that provide Notes functionality.
-Cameron McKenzie