First MCMS SP2 hotfix has been released today!
DCA complains about missing priviledges when selecting a database when SQL authentication is being used
Our current findings show that this issue is caused by the fact that the DCA now always verifies if the MCMS system account has db_datareader, db_datawriter and db_ddladmin priviledges on the SQL server - even if SQL authentication is used.
The hotfix for this problem has been released and can be requested from Microsoft Support as KB 913400
(A list of all SP2 issues including state can be found here: Current known issues with MCMS 2002 SP2)