Locks are placed on the table for the duration of the transaction affecting the table. as such, if this were contained within a transaction (either issued by the calling app or wrapping the abov statement in BEGIN TRAN / COMMIT TRAN) then a lock will stll be placed on [Table]. In fact, it would maintain that lock significantly longer thn just issuing the straight-up delete, as the delete will have to re-run through the Command Parser, query optimizer (though cached execution plan should work for the parameterized query), and buffers for each pass.

You could use NOLOCK on the table, but this will result in the posibility of dirty reads by anything that reads from this table while the delete is taking place, and is generally not recommended.