I've seen a couple of *old* threads here and there, talking about improving the drupal install process, and while I'm not bothering to tackle the installer aspect yet, I am working on some code patches that will auto-install the sql file that accompanies most modules (often modulename.mysql).
So far, seems to function fine, but only for installing sql, not removing *yet* (i'm going to create a table that will record all tables installed for a module, and then run a loop to remove those tables upon uninstallation). i'm using some code from the xoops project, for actually parsing the sql file.
once i have a decently functioning script, i'll either create a project or submit the needed patches for drupal core. the modifications currently take place in system.module (since i'm not yet aware of any hooks that would be activated upon module activation), so i believe patches are what would be best, unless someone would like to point me in the best direction to create a module for this procedure
another limitation is that this is only for mysql databases atm, but there's nothing to prevent others from contributing to help with supporting other database types. it really wouldn't take much effort, mainly testing. also, this patch would assume (and check for) a modulename.mysql file (or for whatever database used), which shouldn't be a huge problem, since most modules already use that format.