TFDP brings T4 template transformation to database projects in Visual Studio 2010. It supports regular T4 template transformation (e.g. "on save" transformation) as well as model driven transformation.
The TFDP extension was originally developed to replace a legacy code generation utility but has grown to a more generic solution and now brings full T4 support to database projects in Visual Studio 2010. In it's current form only the premium and ultimate editions are supported (VSTDB only works for those VS2010 editions) and SP1 is a requirement. The extension will not work on VS2010 without SP1.