I've always found that the best way to find out is to actually test it. Run it both ways and see which is faster.
Are you searching on the characteristics to get the products, or the product to get the characteristics?
My inclination would be to have a seperate characteristics table with 1 record per item per characteristic. IOW, if I wanted to find stainless steel widgets: "SELECT widget FROM items INNER JOIN characterics ON items.id=characteristics.id WHERE characteristics.spec=stainless;"
Also, and this may not be news to you but I felt the need to point it out in case it is: Access really isn't appropriate for a production website. It's a great RAD front end, but the db itself wasn't designed for large scale concurrent access. MySQL is free* and runs great under Windows.
Chris
crcdesign.net