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http://blogs.lessthandot.com/index.php/datamgmt/dbprogramming/best-practice-don-t-not-cluster-on-uniqu/Just one note (and I know you know this Naomi, but it's more for Frank). Certainly using newsequentialid will reduce fragmentation - but it can ONLY be used in a DDL statement for a default value. No DML statement or outside app can ever use newsequentialid. Also, newsequentialid will only provide uniqueness within the database, not globally. (Though newid itself isn't 100% full-proof for global uniqueness either)
I wish they'd never allowed clustered indexes on random uniqueidentifer values. It would have prevented tons of headaches over the years.