This is what people who are new to SharePoint development have been after for quite some time.
 
Killer Feature Alert!:  Generate a site definition from an existing SharePoint Site!!!!! 
 
 
Overview
 
This Community Technology Preview (CTP) of the Visual Studio 2005 Extensions for Windows SharePoint Services contains the following tools to aid developers in building SharePoint applications:

Visual Studio 2005 Project Templates
  • Web Part
  • Team Site Definition
  • Blank Site Definition
  • List Definition

Visual Studio 2005 Item Templates (items that can be added into an existing project)
  • Web Part
  • Custom Field
  • List Definition (with optional Event Receiver)
  • Content Type (with optional Event Receiver)
  • Module

SharePoint Solution Generator
  • This stand-alone program generates a Site Definition project from an existing SharePoint site. The program enables developers to use the browser and Microsoft Office SharePoint Designer to customize the content of their sites before creating code by using Visual Studio.