As you all know PBM is one of my favorite features in SQL Server 2008. It is an extremely powerful feature and to make it powerful we need an extensive list of properties to check. If you look at the number of facets and properties for those facets you may be overwhelmed.
Lucky for you (and me) we have thought of that! If you right-click an object in SSMS you will see the item 'Facets', by clicking this you will get a list of the facets available for that object and the way these facets are configured for the object you selected.
Now the fun comes with the "Export Current State as Policy" button, this enables you to easily extract a policy from an existing object. So if you already have some internal best practices in-place you can create a policy based on existing objects in a matter of seconds.