This is a question for those of you developing on a team of devs where all of you have separate databases. You're versioning your database using source control and other tools which will automatically bring dev databases up to date to the latest version of the database (schema, data, SP's, functions, etc.).
OK Great! But wait! What if you are developing on version 4.0 of your software, but now you need to switch branches to the 3.2 branch to fix a bug? The schema could be (almost assuredly is) very different by now...
I suppose if you went through the extra effort to write rollback scripts along with your change scripts, this could work. But that seems like a lot of work - is it really worth it?