Really, that depends on your storage subsystem.
Benefits of having different luns for data/logs is that you are running on different spindles. And can utilize different raid levels for your data (raid 5) and logs (raid 1).
That being said, depends on the storage subsystem. We are an hp shop, and if we carved luns on our MSA, it would make sense, as you assign different physical disks to logical drives, however, when utilizing our eva, all disks are in whats called a disk group, therefore, all io's are hitting all disks no matter the logical drive...
And again, you have to know the workload of that SQL server. If you say it isn't heavily utilized, I'd do them all on the same lun to start. You can always storage vmotion at a later point if performance becomes and issue.