I have to disagree with Alex.  This is something any SQL Server DBA or developer should know and be able to answer relatively quickly.  We were "caught" by @@identity in SQL Server 7 because we had triggers that created an identity column as well.  Another location inf our compnay would have been caught by it as well in SQL 2000 had I not found their use of @@Identity and informed them of Scope_Identity and Ident_Current.