i wonder if there is something similar to Sql Profiler for Sql Server Compact Edition? i use SqlCE as backend for a desktop application and it would be really great to have
I don't think that would work - CE seems like a totally different beast.
You can enable some logging that might help you:
http://msdn.microsoft.com/en-us/library/ms171949(SQL.90).aspx
I tried to do this and managed to set the database up and connect from SSMS - you have to specify the alternate connection type of 'SQL Server Compact Edition'. Profiler has no such thing - and entering a path to the datafile for the 'database' field did nothing.