I have just obtained ElevateDB from Elevate Software.
You will notice a link off this site for a Free SQL tool tool called Twenty Queries that I wrote some time ago when I wanted to find out the inner workings of SQL. That tool was for a product called DBISAM, a very good SQL database written entirely in Delphi. It compiled completely into your Delphi generated application with no BDE or other engined to install. Using my tool you could create a totally SQL call to recreate your entire database structure from the exe and therefore didn't even need to distribute the database tables with your application either.
ElevateDB is the big brother to DBISAM and I am very much looking forward to getting into developing with it. First on my list will be updating "Twenty Queries" for ElevateDB.
I'll tell you more about my experiences with it once I have had a play.