Visual Studio 2008 Service Pack 1 and .NET Framework 3.5 SP1 have shipped! Get your download here...
And now the Entity Framework will start replacing CodeSmith?
Yeah, I think so in many cases. However, I'm not sure that EF is suited to the needs of every project. I'm still not sure how EF works with test driven development and mocking. RhinoMocks has a pretty compelling story with NHibernate.