That would work for SQL generated on the SQL server, but isn't going to help with dynamic SQL generated on an application. From experience, I've found applications are far worse for it, it seems that (some) application/web developers don't even consider; and then as a DBA you see the application code and have a melt down. :'(
Unfortunately, I can't really think of a way you could capture dynamically generated SQL from an application. It is, one of the reasons why I prefer only letting an application use SPs; as then it can't even try to use dynamically generated SQL.
Excuse my typos and sometimes awful grammar. My fingers work faster than my brain does :-P
Please always remember to encapsulate your code in IFCode Markup. For example [code=sql] [/code]
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