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HTML5 takes this a step further, by adding block-level elements header, footer, section, article and a few others. The main problem with using tables for layout is that you can't move content blocks around on the page by using CSS. Table-based layout fixes element positioning on the page. It works, but it's a terrible mess if you want to change anything. Generally it's bad practice and a sign of an amateur.

Some reading:
http://www.thefutureoftheweb.com/blog/writing-semantic-html
http://dev.opera.com/articles/view/semantic-html-and-search-engine-optimiza/