Hmmm .. I'm not sure I agree, the biggest advantage of sql2005 is 64bit and I'd hope we were all heading this way very quickly - I accept I tend to work in large companies who benefit from such advances.

There's just so many advantages with sql2005, security, tuning, analysis - waiting until sql 2008 would likely mean another 18-24 months, as I'm sure most would wait for sp1 before an upgrade ??? , by then you'll be running on 9 year old technology.