I was just conducting research for improvements in security in SQL Server 2008 and came across the below whitepapers which are great references if you are looking at improving security of your SQL Server environment.
Engine Separation of Duties for the Application Developer
http://msdn.microsoft.com/en-us/library/cc974525.aspx
SQL Server 2008 Security Enhancements whitepaper -
http://www.microsoft.com/sqlserver/2008/en/us/wp-sql-2008-security.aspx