Scott just blogged about T4, the Text Template Transformation Toolkit. It’s a full blown template driven code generation tool that uses the same syntax as Asp.Net. It’s lacking things such as syntax highlighting and intellisense, but it’s free, and part of Visual Studio.
I feel with the recent press this tool is getting, it will become even more popular, and some of the missing features added by the community. Scott has a whole list of links on his post that provide good samples, as well as a link to a company that provides a free and pay version of a plug-in to add some of the “missing” functionality.
Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.