I would say copy the database to development and test with the following events:

-RPC:Completed

-SP:Completed

This blog discusses the topic well.

http://social.msdn.microsoft.com/Forums/en/sqltools/thread/0c922a7f-f782-4179-a42c-3b7310652463

Also this is mentioned in the sample video from this site

http://sqlserver2008tutorial.com/sql-tutorials.html

Later

Kash