Thanks for the replies guys. I’ll let you all know how the RedGate SQL Source Control works out. So far, I’m pretty impressed with how nicely it integrations into SS Management Studio. It has an option to do a shared dev server, or local dev servers. While you can save custom migration scripts to get from revision x to revision y, it primarily works by scripting out all structure and static data. Then when you want to “checkout”, or “switch” to a given revision number, it basically does a compare between your existing “working copy” (Database) and the version of the scripts at that revision number, and creates a diff script on the fly to get you there. Basically the same way you would compare two databases, and synch on to the other-- except you’re comparing to a scripted snapshot in version control.
What I’m really digging so far is the automation capabilities to tie RedGate into your Continuous Integration server to automate builds.