I switched over to an electronic logbook, specifically FlightLevel 2k and have been totally satisfied with it. I dont have to worry about math errors and it makes a very nice presentation when I need to display it. I havent personally had a chance to use it at an interview but others here have posted that the recruiters dont seem to mind. I have never heard of an interviewer rejecting a printout from an electronic logbook but they will usually want to see your original written logs as well.
I do keep my old written logbook that has my endorsements in it but I no longer track any flights in that book. I also like the fact that FLTLVL2K can interface with my palm pilot so that when I'm away from home I can still keep an accurate record of my hours. Really it just boils down to person opinion - do what you are comfortable with. Realize that keeping an electronic logbook requires some additional work (MAKE BACKUPS, making sure that when you buy a new computer or switch operating systems that it will work, etc etc) but to me its worth it.
I wish I would have had one of these computerized logbooks years ago. For several interviews, all I had were my Jepp Logbooks. Then, toward the end of my interviews, I would I have printouts of my flying from the company's computer. I would print my trip at the end and put it in a "book report" type plastic folder. You know the kind that is clear and you slide the plastic piece on the end? I would also, print out month and yearly totals.
So, at my interviews, I had 1 "rainbow" logbook (my first that had blue ink, black ink, etc.), 2 jepp logbooks, and 3 folders (one for each year). Nobody seemed to care as long as they were neat and the times were correct. I'm not necessary recommending this but it worked for me without any complaints. In my opinion, one computerized logbook sounds like a great idea, but I don't do the hiring. I bet Kit Darby's group has an answer as well as Carol Cage. (I think that is her name.) She has a book called "Checklist for Succes". There may be an answer in there. Definitely worth a read.