I have that same setup, PB 9.0.3 and SQL Server 2008. Here is my database profile:
SQLCA.DBMS = "OLE DB"
SQLCA.LogPass = "mypassword"
SQLCA.LogId = "myuserid"
SQLCA.AutoCommit = False
SQLCA.DBParm = "PROVIDER='SQLOLEDB',DATASOURCE='myservername',PROVIDERSTRING='DATABASE=mydatabasename',OJSyntax='ANSI',PBCatalogOwner='dbo'"