I came to this forum to mention the inaccuracies around the table variable being stored in memory, but since that has already been covered several times I will just mention that a cool feature of 2008 is that table variables can be used in parameters for stored procedures.

The table variable always seemed so limited to me without this feature because if you can only access the table inside of a stored procedure why not just create a local temp table - much easier for debugging.

In several cases I have used global temp tables when I needed to persist data across dynamic SQL and/or inner procedures, but that is prone to collisions. The table variable will act much like a semi-persistent result set or array in 2008 which will make it useful.