цитата:
--------
After a collation has been assigned to any object other than a column or database, you cannot change the collation except by dropping and re-creating the object. This can be a complex operation. To change the default collation for an instance of Microsoft® SQL Server™ 2000 you must:

Make sure you have all of the information or scripts needed to re-create your user databases and all of the objects in them.

Export all of your data using a tool such as bulk copy.

Drop all of the user databases.

Rebuild the master database specifying the new collation.

Create all of the databases and all of the objects in them.

Import all of your data.


Note: Instead of changing the default collation of an instance of SQL Server 2000, you can specify a default collation for each new database you create.

Я бы просто заребьюлдил master db.
Хотя в БОЛ пугают:

Changing Collations After Setup

When you set up SQL Server 2000, it is important to use the correct collation settings. You can change collation settings after running Setup, but you must rebuild the databases and reload the data. It is recommended that you develop a standard within your organization for these options. Many server-to-server activities can fail if the collation settings are not consistent across servers.