Can I grant a user ALTER TRACE permission to a single database? I have a development user who requires the ability to use SQL Profiler on a single database. Is there a way to enable this without granting a server-wide ALTER TRACE permission? (The user should not have any access to the other databases at all.) This is Microsoft SQL Server 2008 R2.
i doubt that 

the ALTER TRACE permission is a server level permission, and access is at the server level; if a user can start a trace, he or she can retrieve event data no matter what database the event was generated in.

for more info

http://technet.microsoft.com/en-us/library/cc293611.aspx

http://msdn.microsoft.com/en-us/library/ms187611.aspx