If it is to display tabular data then it should be coded as a table. If there is no tabular data then NOT using tables makes for smaller, easier to maintain, faster loading code.
The easiest way I know of to determine whether to use a table or not is to temporarily turn on borders for the table (if you aren't using them anyway). If using borders stuffs up your page so that it looks weird then it should not be using a table.
In most cases the answer to "Table or Div" is to not use either but to mark up the content using the semantically correct tags. Where appropriate tags do not exist then the answer is "div". The answer to this question is never "table" since if a table is required then the question would not be asked in the first place.