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Statistics on Ascending Columns

It comes as rather a shock to find out that one of the commonest circumstances in an OLTP database, an ascending primary key with most querying on the latest records, can throw the judgement of the Query Optimiser to the extent that perfomance nose-dives. Fabiano Amorim once again dons snorkel and goggles to explore the murky depths of execution plans to find out why.

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Question of the Day

Running SQLCMD II

I run this command to start SQLCMD:

sqlcmd -S localhost -E -c "proceed"
At the prompt, I type this (the 1> and 2> are prompts):
1> select @@version
2> go
What happens?

See possible answers