[Create table][1] says:

"IDENTITY

Indicates that the new column is an identity column. When a new row is added to the table, Microsoft® SQL Server™ provides a unique, incremental value for the column. Identity columns are commonly used in conjunction with PRIMARY KEY constraints to serve as the unique row identifier for the table. The IDENTITY property can be assigned to tinyint, smallint, int, bigint, decimal(p,0), or numeric(p,0) columns. Only one identity column can be created per table. Bound defaults and DEFAULT constraints cannot be used with an identity column. You must specify both the seed and increment or neither. If neither is specified, the default is (1,1).

seed

Is the value used for the very first row loaded into the table.

increment

Is the incremental value added to the identity value of the previous row loaded."

So the system function @@identity will have to cope with the most covering type. [1]: http://msdn.microsoft.com/en-us/library/aa258255%28v=sql.80%29.aspx

Create table says:

"IDENTITY

Indicates that the new column is an identity column. When a new row is added to the table, Microsoft® SQL Server™ provides a unique, incremental value for the column. Identity columns are commonly used in conjunction with PRIMARY KEY constraints to serve as the unique row identifier for the table. The IDENTITY property can be assigned to tinyint, smallint, int, bigint, decimal(p,0), or numeric(p,0) columns. Only one identity column can be created per table. Bound defaults and DEFAULT constraints cannot be used with an identity column. You must specify both the seed and increment or neither. If neither is specified, the default is (1,1).

seed

Is the value used for the very first row loaded into the table.

increment

Is the incremental value added to the identity value of the previous row loaded."

So the system function @@identity will have to cope with the most covering type.