Model Oriented Architecture E-Summit

I'm listening now to Model Oriented Architecture E-Summit provided by International Association of Software Architects.
There are several companies, who present on the idea of automatic code generation. The concept is intriguing - draw proper model in a tool and it will generate application code. My architecture hat is excited, but my realistic coding hat is skeptical.
I will look on more demos at http://bluage.com/index.php?cID=online_demos and metacase.com to see more. It's interesting to see whole vendor space in this area, as VS2010 also offer modeling tool.