Oh, it is called "Sequel Server" within Microsoft, but Wikipedia says "S-Q-L" for the language. Strange... I remember it saying "sequel" some time ago. Is the received pronunciation now C-O-B-O-L too?
My experience is, in the US they say "s-q-l" in academia and "sequel" in industry. YMMV.
That's interesting. In my experience, people who have been around it a long time (say, 20+ years) tend to use "sequel". The younger of my colleagues generally use "S-Q-L".