Hmm, I was more bothered by the fact that NOT IN() is assumed to NOT be SARGable... In SQL 2000 this was always true when there was more than one value in the NOT IN() parentheses, but as of SQL 2005 the optimizer does a pretty good job of using indexes even then!
http://poorsql.com for T-SQL formatting: free as in speech, free as in beer, free to run in SSMS or on your version control server - free however you want it.