Between Sysobject changes and changes in the UI for SQL Profiler you may run into some unexpected results when trying to trace DB commands (especially if you are trying to trace on only a specific db (recommended – profiler is a rather heavy tool)).
You may find the below chart of assistance. Note – in the 2005 version of profiler there is a checkbox on the “Filter” dialogue called “Exclude rows that do not contain values” (this does not exist for the 2000 version). Your filters will not be applied unless this box is checked. Additionally this option is not available when using 2005 tools on a 2000 DB.