One of the questions asked in my SQL Server Automation & SQL SMO session at the 2006 PASS Community Summit was "when an object is being scripted in SQL Server Management Studio (SSMS) how can the permissions for the object be scripted".  I had a mental blank and could not remember off the top of my head, as did everyone else in the session.  The permissions can be scripted in SSMS for an objects by using the Wizard in SSMS by Right Clicking on a database and selecting Tasks | Generate Scripts as illustrated below: