Carpe Datum over at MSDN talks about people wanting Query Analyzer back over Management Studio. I admit, the lack of Query Analyzer has been a source of ire for me as well. I like the default Management Studio for editing databases and what not, but if I want to whip up a quick query or something I miss query analyzer. Unfortunately the solution he provides causes Management Studio to always assume you want to run a query. After a bit of fooling around, I came up with a batch routine that seems to mimic Query Analyzer pretty well. I present to you isqlw.bat :)
if '%1'=='' goto nofile
echo. > %TEMP%\Untitled.sql
start sqlwb -nosplash %TEMP%\Untitled.sql
start sqlwb -nosplash %1
This works well for me, YMMV of course, but I hope you might find it useful.