The problem with this script is it sets EVERY field to NOT NULL as well as losing any default value set. This prevents Gradebook and a few other things from working properly.
I had to completely recreate my Moodle database table structures then restore in my Moodle data to fix the site after this. (Although my site is now UTF8.)
If anyone else is experiencing this I've written up what I did to fix it, but it is pretty rough so make sure you understand what you are doing.
http://jrudd.org/wordpress/2009/06/18/moodle-structure-problems/
Installing and upgrading help
fixing Fantastico! installation problem of DB charset not UTF-8
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