I'd have to agree that sperate pages for the terms but I'd add that in recent times I've been noticing a new kind of search that is gaining in popularity. I'm not even sure if it has a name yet.
The way it works is there is a standard text search box but as you type a pulldown opens with a list of possible matches to what you have begun to type. Sort of an Intellisence type thing. But, after giving it some thought I think the first few items in the list should be the most popularly searched terms that match what you are starting to type. Then after those itmes the list would continue with the alphabetic options.
Example: You begin to type "A" The list would open and the first item might be AUTOMATIC TRANSMISSION, ANTI-LOCK BRAKES then a seperator line and then ACCELERATION, ADAPTIVE CRUISE CONTROL, AFTER-MARKET PRODUCTS, AIR CONDITIONING...

I think it is being done is AJAX or something. I'd love to add this to my site but I haven't figured out how it is being done yet. Has be perplexed because of the speed that it is being done at.
If you want to see one of the better versions of this checkout Netflix Online Movie Rentals - Rent DVDs, Classic Films to DVD New Releases. Of course their's is specific to finding movies. But you get the idea.
Hopefully others reading this will know more about it than I and will post links or helpful ideas because it really helps the useability of the search.