Of course, the standard answer is it depends. A table with that many fields could actually make quite a lot of sense in some situations.
Think about the data you'll be storing in there. Is it likely that many of these fields will be NULL? What's the likelihood that these fields change (eg: more are added)?
If only certain fields apply to certain objects, perhaps think about putting those fields into another table. Alternatively, store just the basic, common fields in one table, and the extra information in another table, one row per field. As I suggested for a different question (which might be helpful to you):
refs (id, title, refType)
-- title of the reference, and what type of reference it is
fieldDef (id, fieldName, refType, dataType)
-- name of the field, which reference types it applies to, and
-- what type of data is stored in these fields (ISDN number, date, etc)
fields (refId, fieldId, value)
-- where you actually add data to the references.
Note that this was downvoted, and probably with good reason. This is an option, not necessarily the best option, but it's still a workable method. The highest voted answer in the question I linked to there might be the best solution however.
Edit: since you say that it will be holding things like per-user settings (eg: widget colour), I'd actually recommend the method outlined above (with the three tables). Chances are that most people will leave things at the default, so you'll have a stack of useless information being stored. Please do read my answer in the other question because other readers have pointed out the shortcomings of this method.