Forum OpenACS Q&A: Response to How to send and receive emails from SQL Server 2000
Sending emails the MS way requires a MAPI client (Outlook) running on the server. Alternatively, you can use xp_cmdshell and blat or some other command line utility (I like perl). You can also use CDONTS or ServerObjects ASPQueueMail with the OLE system stored procedures.
Receiving usually entails running a scheduled agent or DTS job to read from your POP server and write messages into your DB tables.
I would make the general suggestion that you're posting your ms stuff on the wrong board. Try Microsoft's mssql server newsgroups - more knowledge ms-heads hang out there.