I actually have a premium license, but chose not to set up another server just for SQL. It seems to be working fine for the most part.
I don't know the inner workings of AC, but it seems that not closing AC clients frequently enough (I don't log off my office computer at night) seems to be causing slow-downs in retrieval of messages.
I love hearing from different people on how things work for them. I especially appreciate the real world experience Bert has with AC. Kevin seems to be getting more out of SBS features. Personally, I like the idea of putting AC on the SBS server. Actually, all the rest were just bonuses for me - I worked without the benefit of AD, Exchange, SharePoint, RWW etc, and I am sure the users (who currently rave about the new features) would not have known what they were missing. IF a suitable machine was on sale, I could have easily swung towards using just a plain server instead of SBS. The feature that I like the most is RWW - so much cleaner and faster than LogMeIn. However, I still use LMI from the iPad.