Ted Pattison has told me about a new SharePoint utility called STSDEV he (collaborating with John Holliday, Andrew Connell, and Scot Hillier) has written and shared on CodePlex at http://www.codeplex.com/stsdev.
STSDEV is a proof-of-concept application that demonstrates a simple code generator for create SharePoint 2007 development projects targeting Visual Studio. The fact that the STSDEV utility generates project code in a repeatable fashion also makes it possible to build Visual Studio solutions for SharePoint development that adhere to best practices.
One important aspect of STSDEV is that it is extensible. You can add your own custom solution providers that create solutions for things such as MOSS WCM, ECM or vertical solutions (e.g. Customer Tracker). STSDEV creates the basic project structure and you just need to add the extra code to generate the items (e.g. Features, WebParts, Application Pages, etc) that are specific to your project type.