Did you know this incredibly useful feature now comes with SQL 2008′s Enterprise Manager? I haven’t tested it with multiple tables that have complex relationships, but if you want to script data with more complexity, you should consider Red Gate’s SQL Data Compare.
Script Data in MS SQL Server 2008 Database Tables using Generate SQL Server Script Wizard
If neither is feasible, one of the most popular, creative and often-overlooked options is to use Microsoft Excel and write a formula to generate INSERT statements. Drag the cell corner to copy this formula for multiple rows. There are also many other code generation possibilities from this technique if you think creatively.
Scripting SQL data is easy to do, make it part of your build process! Stick it in SVN and you bring version control to your database development.