Today, I was trying to install SharePoint Farm on my computer with SQL Server 2012. Everything ran smoothly until I started the SharePoint 2010 Products Configuration Wizard. Initially, the wizard started smoothly, asked me DB Name and other details but suddenly while it was processing it threw an error:
Failed to create a database. An exception of type System.Data.SqlClient.SqlException was thrown. Additional exception information: Could not find stored procedure ‘sp_dboption’.
After a bit of reading I found that SharePoint Server 2010 needs SP1 to be installed before I could configure it with SQL Server 2012. I reached to the Microsoft Knowledge Base article : http://support.microsoft.com/kb/2460045 , downloaded the SharePoint Server 2010 SP1 and executed it. The setup of SP1 took me about 5-7 minutes and then after the SP1 setup, I restarted my computer. I once again executed “SharePoint 2010 Products Configuration Wizard” and this time it worked like magic. So if you face challenges setting up a NEW FARM then you can follow the steps stated above but for the existing farms you need to run upgrade actions in the SharePoint farm and patch all the servers with SP1.
Hope this helps. I will post a few more articles on SQL Server 2012. Keep in touch and have fun.