Strong recommendation.

Don't use the ring buffer target. It's very attractive, but it leads to problems. Read this post by Jonathon Kehayias for details.

One immediate concern I would raise with whoever has asked you to back up a table instead of the database. How do you restore it? You need a plan for...

Target and Total Server Memory are frequently identical after the server has been running for a bit. SQL Server will consume the memory available and then hold on to it....

I'd monitor it using Extended Events (or if you're on 2008, Trace Events). You can capture the query. You won't see the data, but you can see the query.

Yeah, I agree with Drew. Rather than try to capture the SELECT statement, just capture the data from the data modification through the OUTPUT clause.

A backup and a restore followed by data cleansing would be a lot easier.

Otherwise, if you're moving subsets of data, especially since it's going to be relational data,...

If you mean something along the lines of, within T-SQL:
SELECT * FROM LastSelectResultSet
Then the answer is no. However, if you want to see what's happening on your server,...

The issue is, getting the exact detailed information isn't going to radically change the majority of your systems and it costs a lot more to produce. So, slightly better information...

What Jeff said. And in situations like this, execution plans are our friends.

I actually had to think about that one for a minute. Nice.