When on a SAN, you do not write to 1 specific disk but to a set of disks (managed at the SAN level).
When you use physical disk, you want to split IO to prevent from IO bottleneck causing performance issue (P.s. Splitting data and log is an old habbit and may not be the best way to split your IO... But you probably want to make sure tempdb is on a different disk). When you write to a SAN, your IO are already split on different disk by the SAN so it doesn't need to be different virtual disk.
You could do it to simplify troubleshooting (identify an issue with your log for exemple). If it's on a different virtual drive, you'll be able to get segregated "stats" from perf mon for example.
Other then that, I can't think of any good reason to create multiple disk when using a SAN infrastructure.