Ever inherit a DB and wonder how many procs/views/triggers are referencing a column you have to make a DDL change to? You can change from VARCHAR(10) to VARCHAR(100), and everything looks cool until people start complaining about data being truncated. Where is that sp parameter definition that is truncating the data? This should help reduce your search efforts.
sp_depends shows you affected objects by table but not by column so I wrote this to show me where a particular column is getting used.
Also since sp_depends may not return all related procs I put a flag in to basically search all procedures.
Here is a sample call against the AdventureWorks DB.
DECLARE @return_value int
EXEC @return_value = [dbo].[LocateAffectedProcedures]
@in_TableName = N'HumanResources.Employee',
@in_Use_spDepends = FALSE,
@in_ColumnName1 = N'LoginId'
SELECT 'Return Value' = @return_value
When you see the output you will see that the column is used in only one Stored Procedure and which lines it is used on. sp_depends returns 18 entries and searching through them all would be a bummer.