My understanding of Linq to Sql is it will take my Linq statement and convert it into an equivalent SQL statement.
So
var products = from p in db.Product
Sprocs have their uses, just like using LINQ does. IMO if an operation is performed multiple times in multiple places then it's a good candidate for "refactoring" into a Stored Proc, as opposed to a LINQ statement that is repeated in different places.
Also, and this is probably blasphemy to a lot of people here, sometimes you should put some logic into the database and then a sproc comes in handy. It's a rare occurrence but sometimes the nature of business rules demands it.