I concur with all of the above comments. I've had extensive experience with customers who wanted to use SharePoint lists for things where they didn't fit. If you're worried about performance at all, then SharePoint lists are not the way to go. If it's simply for archival purposes and you are doing infrequent searches against the data and the SharePoint search features are sufficient for you, I might consider it and not dismiss it out of hand (if you're using MOSS).
But I would consider all aspects of this carefully. It's not too difficult through Data Form Web Parts, and the BDC to get SQL server data into the SharePoint environment, but it is more difficult to get SharePoint data into other platforms or applications.
And again, if performance is at all a requirement, then don't do it.
For more SharePoint scalability and performance best practice information see: http://technet.microsoft.com/en-us/library/cc287790.aspx