It runs you through the whole process and I think is a must read for anyone playing with code generation.
To clarify my position, I find XSLT a little inelegant and thus prefer CF Template which is more powerful and concise, but outside (and inside) of the CF world XSLT is widely used, so it is a very valid approach.
As for databased metadata, the problem is that because it only knows basic information (it knows that a field is a varchar(8) but doesn't know it is a US Social Security Number - for example), the generated code acts only as scaffolding - a starting point for customizing the code base.
That said, unless you've written your own object based code generator, a starting point is better than nothing and playing with something like Illudium would make writing a more robust generator easier.
Well worth checking out.