Very true Wheemer, but this is much much quicker and easier for newbies, who probably don’t have or know how to use Enterprise Manager. This post was someone else’s idea, but it was buried somewhere in another thread. Also, most solutions to this permission denied problem involved raising a ticket to get support to change the permissions or something, whereas this is dead easy and saves everyones time.
Yes I believe that you need to change every instance of dbo with your mssql username. Since the database will then be created with your username as the owner, all scripts should have full permissions then.