SQL Server Profiler cannot replay the following kinds of traces:

• Traces that contain transactional replication and other transaction log activity. These events are skipped. Other types of replication do not mark the transaction log so they are not affected.
  
• Traces that contain operations that involve globally unique identifiers (GUID). These events will be skipped.
  
• Traces that contain operations on text, ntext, and image columns involving the bcp utility, the BULK INSERT, READTEXT, WRITETEXT, and UPDATETEXT statements, and full-text operations. These events are skipped.
  
• Traces that contain session binding: sp_getbindtoken and sp_bindsession system stored procedures. These events are skipped.
  
• SQL Server Profiler does not support replaying traces collected by Microsoft SQL Server version 7.0 or earlier.
  

Note:
In SQL Server 2005 or later, if you do not use the preconfigured replay template (TSQL_Replay), and do not capture all required data, SQL Server Profiler does not replay the trace. For more information, see Replay Requirements.

For information about what permissions are required to replay a trace, see Permissions Required to Run SQL Server Profiler.