We use a vs.net DB project and have had pretty good results with it. The versioning part has been wonderful during new development, but as we get into maintence mode there have been a few issues keeping track of what's current, and whats in process. This could of course be handled with branching, which is our final solution, but for now we use 2 DB projects, 1 for the developers, 1 for the DB folk, and the DB folk move what needs to be rolled to releases to their own project on word from the dev staff. This also gives the DB staff the implcicit ok to QA the db work, which is a nice step we will lose with branching, which we will have to work out at that point. All in all, though, I wouldn't want to manage the DB without the DB project, or something like it anymore.