I am still on the fence about whether this is a good thing or a bad thing. However, in the next build of SQL Server 2008 you will be able to get your hands on, you will find that some element limits have changed, just a bit. With the introduction of sparse columns, you can now jam 30,000 columns into a table. No, that is not a typo; I really meant to type 30,000 columns (up from 1,024). You can also create 30,000 statistics (up from 2,000), and 1,000 indexes (up from 250).
This room comes at a cost, though. For tables with sparse columns, the maximum row length drops from 8,060 bytes to 8,018 bytes.
I question whether there is a practical application for this in the real world. There probably is, but I must be in the wrong market segment to understand what it could possibly be.
In any case, I'm sure this news makes someone out there happy.