I upgraded from SQL 2005 Express to SQL 2008 Express (SP1). I have T-SQL code with a field value in double quotes (see ex. below). With ANSI SET QUOTED IDENTIFIER off and Intellisense enabled, I still get the double-quoted field values underlined as errors with the message "Invalid column name". At the very least, the expected behavior is that with SET QUOTED IDENTIFIER off the field value will not be interpreted as a column name.
Ex. SELECT "text_" = "<xwidget section='HeadingSection' value='Codes' />"
FYI - the result set is being processed by an HTML template-style DLL that renders web pages from the SQL results.