One of the most important new thing with EF4 (EF v2) is POCO entities (no dependency with EF).
Having independent classes is good but code generation also is. Indeed, if we want to change entities we don’t have to do the work twice (one for edmx and one for the entity class).
So what would be very cool is to be able to generate POCO entities. To realize this, T4 template is very cool. You can download here the tt file I made from the default one.