I've written my own tool to do this --- a heavy edit of http://www.codeplex.com/scriptio actually --- and this new product differs in at least three respects: the white space (indenting tabs, blank lines), the directory structure (example: "Functions" and "Stored Procedures" should be under "Programmability"), and extra command (example: CREATE USER has CREATE LOGIN and GRANT CONNECT around it). Why not match the SMO output exactly?