Microsoft has released ADO.Net Entity Framework Tools Aug 07 Community Technology Preview

Overview of features in this CTP:

Entity Designer
Generate a model from a database with the wizard and display it on the designer surface
Edit conceptual model properties (e.g. namespace, alias)
Layout and control visual aspects of the design surface and persist changes
Add, delete, and edit entities, scalar properties, associations, and inheritance
Automatic set management
Automatic navigation property management
Error reporting
Validate model and mappings using the Entity Framework Runtime

Entity Mapping
View the mapping for a C-Side Entity or Association
Rename or delete C-Side objects without worrying about mapping
Map an EntityType to multiple tables
Apply multiple conditions to a table mapping
Map associations
Automatic generation of conditions and referential constraints on associations
Map an Entity hierarchy to a single table (TPH mapping)
Map an Entity hierarchy to multiple tables (TPT mapping)

Entity Model Browser
Understand and visualize the model in a tree hierarchy

Visual Studio Integration
item template, model generation wizard, EdmxDeploy.exe, and Entity Framework validation on build

IMPORTANT: Read the steps in the instructions below in order to install the ADO.NET Entity Framework Tools Preview CTP.

ADO.Net Entity Framework Tools Aug 07 CTP