Excellent stuff and it will be quite useful.

One point about the trace file location, in your example you point it to a network share. What issues will there be in the server isn't available? i.e. in your example you point it to your machine, what if your machine was turned off?

Also if writing the trace to a local file and your DB is busy you want to think carefully about which drive the trace file will go to. Systems I have used were tuned with file groups so the parts could go on different drives. There were also temp DB issues from time to time. So placing the trace file is something that your should think carefully about.

John