You might want to have a look at
http://www.simple-talk.com/sql/sql-server-2005/sql-server-2005-common-table-expressions/
Which shows how this sort of thing can be done in v2005.
Must admit I never create a permanent table like this but always create it on the fly - either as a derived table or table variable.
Cursors never.
DTS - only when needed and never to control.