MultiTail lets you view one or multiple files like the original
tail program.

The difference is that it creates multiple windows on your console
(with ncurses). Merging of 2 or even more logfiles is possible.

It can also use colors while displaying the logfiles (through
regular expressions), for faster recognition of what is important
and what not. It can also filter lines (again with regular
expressions). It has interactive menus for editing given regular
expressions and deleting and adding windows. One can also have
windows with the output of shell scripts and other software. When
viewing the output of external software, MultiTail can mimic the
functionality of tools like 'watch' and such.