I think this question indicates that using default values with a new item like CREATE SEQUENCE isn't a great idea. I, for one, will be defining everything (AS, START WITH, INCREMENT BY, MINVALUE, MAXVALUE, CYCLE, CACHE) if I get round to using sequences in SQLServer. I know it might look wordy and take up a few more lines but for the sake of clarity, and potential help in solving problems, I would think it worth it.