I just read a great blog post by Mike Edwards on using the T4/TDS auto-generation framework to generate a Glass model for Sitecore. This example really shows how versatile the concept is and how it can be used to generate any model for Sitecore:
Also: Hedgehog recently announced that TDS v4 will have support for T4 code generation - so hopefully we can soon say bye bye to the clunky post build batch script. As far as I know this version is scheduled to be released in the autumn.