I attended a SQL Server user group just before christmas and I found it pretty illuminating. Well worth the trip out. Altiris administrators have to wear many hats, and SQL Server knowledge is more than useful -it's critical for a smooth running Altiris setup.
I strongly advise you join a SQL User group near you. At mine they provided free pizza and we could bring in a beer from the bar downstairs.... Not that this was my primary reason for going of course....
You might not of course understand what they are saying, what they are doing, or even why they are doing it... but in time you might ;-)
And making connections with SQL admins could turn out to be very useful in a time of need. And, I am of course assuming you are already a member of your local Altiris Group... right??!?