I have the same problem but I've tried by creating a new account with owner rights to all databases and I still get the following error when connecting with query analyzer
Unable to connec to server SERVERNAME
Server: Msg 17, Level 16, State1
[Microsoft][ODBC SQL Server Driver][DBNETLIB]SQL Server does not exist or access denied
[font="Verdana"]Sal Young[/font]
[font="Verdana"]MCITP Database Administrator[/font]