Here at work (a multi-billion dollar manufaturing company with a 12 person Windows development team) we are about to go to a single master database for all new applications and will have it broken up with schemas for what we normally would have had databases for before. There will also be a few common schemas with stuff like employee directory and branch directory and so on...
I'm still not sure how I feel about this move, but we're about to have a meeting on this in a few hours to discuss pros, cons, best practices, pitfalls and so on... so I'm looking for your thoughts on this... Is it good? Is it bad? What problems are we going to run into a year from now?
Any thoughts, tips, or advice is welcome. Thanks
EDIT In response to a comment on this question, we are using SQL Server 2005 and we are actually talking about moving what would have been seperate databases on the same instance into a single database. The driving issue is the complete lack of referential integrity accross databases as the majority of our applications need access to common data such as an employee record, or branch information.
UPDATE Several people requested that I update this question with the results from our meeting so here it is. We debated back and forth the pros and cons of doing this (I even showed them this question using the projector) and by the time we were done we had pretty much covered the pros and cons covered here. About half of us thought we could get it done with the right resources and commitment, and about half thought we couldn't do it (or that it wouldn't work out well). We decided to use some time with Microsoft to get their thoughts and platform specific advice. I will be sure to update this question and my blog after we've talked to them. Thanks for all the help and helpful answers.