i just want to bump this old thread for future reference and to give props to the people who have posted here. very interesting and excellent information on the subject.

at my company, we had some issues with reports/queries on SAP and after some analysis on the heavy hit tables I found that fragmentation levels were 95-99%. these tables were heavily inserted deleted on a daily/weekly basis. and huge. 10s of GB, one being almost 90GB.

i implemented some "smart" reindexing based on the below webpage and reports running 1+hour are now taking 2-3 minutes.

http://benchmarkitconsulting.com/colin-stasiuk/2008/11/04/smart-reindexing-sql-server-2005-2008/