Until Microsoft SQL Server 2008, we were limited in our storage and handling of date and time data. Our options consisted of either the datetime or the smalldatetime data type as you expressed. Both options were a combined field storing both date and time data. As a result we had to deal with cumbersome CONVERT() functions or involved T/SQL manipulations to massage and cajole data values stored in our databases into formats that were relevant and proper for our needs. The release of Microsoft SQL Server 2008 brought with it 4 new date and time data types: date, datetime2, datetimeoffset, and time. Each one of these will provide additional functionality and should significantly reduce the amount of coding overhead associated with managing date and time data. In this tip I'll be using the following table to demonstrate the differences between date and time data types in SQL 2008:
http://www.mssqltips.com/tip.asp?tip=1616
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