Great article. I have been using this technique for a few months now and it saves tons of resources on the server, plus helps with my sleep when I need to trace a problem at 3am.

One thing to note though, when you run the script, it adds the trace. The trace will stop at the pre-defined stop time, but the trace definition will stay on the server. If you have this as a scheduled job to run every night or every day, it will keep adding new trace definitions. In my jobs, I just create a step to delete the trace after it completes.