Unless the database is very small, this script will blow up the tran log.
Things I would change or add to this script:
1. Abort the script if the specified/current database is mirrored or replicated.
2. Abort the script if a user tried to run it on a system database.
3. Use Truncate Table instead of Delete From for improved performance, to prevent tran log bloat, and to reset identity values.
4. Get rid of cursors (not needed).