CodeSmith 5.0 is currently in beta 2.
Visual WebGui was recently released as version 6.1.
My latest screencast on Code Generation in Visual Studio using T4 Templates.
Subsonic 2.1 was released with a number of new features to help with those database-driven ASP.NET websites.
I think ASP.NET Dynamic Data Rocks for forms over data web applications. We have new updates for the runtime, templates, and MVC preview.
A major release of the free Retina .NET O/R Mapper.
If you are interested in Castle ActiveRecord, The NHibernate FAQ has a new tutorial on getting started with Castle ActiveRecord.
Retina.net is an O/R Mapper for the .NET Framework that appears to be active once again on CodePlex.