ES doesn't setup the schema of a database, but... yes, you can use one of the ISO formats in SQL Server 2005 to save in a standard pattern. However, be cautious, the database may not know how your date was created.I have the server create all timestamps and then convert the Date/Time to a local timezone within my service. If an end-user creates a Date/Time, I convert it to UTC before saving.
If you need very accurate times (greater than a second), then you should study up because .NET Date/Times and standard SQL Server Date/Times are only accurate within milliseconds and they don't match each other exactly. I have no need for such accuracy, sio I haven't even tried to be that accurate. I have noticed doing some unit tests that you should be very careful with querries and date/time comparisons because it is possible to get a time in your code, save it and load it back and the slight decrepencies between .NET and SQL Server or other databases may cause the original time to slightly differ than the one you get back (by let's say 300 milliseconds).