Did you know that SQL Server 2005 adds a new trace flag (-T1222) for deadlock trace output? This deadlock output has numerous improvements over older versions of SQL Server. For example, some of the enhancements of the new grace flag are:
1. XML like output for the deadlock
2. Execution stack at the time of the deadlock
3. Log space used by the task(s) involved in the deadlock
For more details, see the Books Online topic: Detecting and Ending Deadlocks.
Additionally, you can also view a graphical representation of the deadlock using the SQL Server 2005 Profiler tool now. You can find out more about this from the Books Online topic: Analyzing Deadlocks with SQL Server Profiler.