Gotta disagree with you somewhat, TL. MM/DD/YYYY is commonly used for business... in North America. Elsewhere in the world, it is more common to use DD/MM/YYYY.
From a programming perspective, I prefer YYYY/MM/DD. Why? Because if you string 'em all together and remove the punctuation, it sorts nicely. 20030304 will always sort properly with the dates around it in a nice left-justified manner. If you use 03042003 or 04032003, you have to parse the date in order to figure out which one is bigger.
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