I have heard people state that Code Generators and T4 templates should not be used. The logic behind that is that if you are generating code with a generator then there is a bet
Code generation, like generics, templates, and other such shortcuts, is a powerful tool. And as with most powerful tools, it amplifies the capaility of its user for good and for evil - they can't be separated.
So if you understand your code generator thoroughly, anticipate everything it will produce, and why, and intend it to do so for valid reasons, then have at it. But don't use it (or any of the other technique) to get you past a place where you're not to sure where you're headed, or how to get there.
Some people think that, if you get your current problem solved and some behavior implemented, you're golden. It's not always obvious how much cruft and opaqueness you leave in your trail for the next developer (which might be yourself.)