Hi,
seems like a good solution, but only if you have a 'maintenance window'. We normally don't have a lot of maintenance windows, so if you can't go offline, dbcc upgrade_object won't help us either.
Also, setting the 'trunc log on checkpoint' option is not possible for us, as we use Sybase Replication (we have a warm Active/Standby environment)
Still, the most simple thing to do for is taking a full database dump, the only downside is that it takes 50 minutes to complete. After that, i don't care if the transaction log grows fast, cause a transaction dump takes only seconds to complete...(and we take advantage of the 'threshold' mechanism to take automaticly transaction dumps)
But, nice to learn about the dbcc_upgrade trick 
PS: you also can use the ase method "sp_depends"
Greetz
Pieter