http://msdn.microsoft.com/en-us/library/ms186775(v=sql.110).aspx
Each new value for a particular transaction is different from other concurrent transactions on the table.
q1) Does that mean i can insert into the table from diffrent transactions even from otherdatabase parallely
like using db.dbo.table1
q2) Does that mean it locks some thing in "critical section" which gets new id for the identity col,
so that it will never clash.
yours sincerely