Suggestion: Merging Rails application templates with generator functionality

Been working a bit lately on implementing Rails app. templates and
generators. It is clear there is a lot of overlap and that features
from generators could be used in app. templates and vice versa.
I will try to port some of the generator features such as the template
function (executing an .erb file and saving the resulting content as a
file in a specific location) to be used with app. templates, perhaps
as an app. templates extension (gem?).

What do you think? Is this already possible and convenient by other

As I understand it, Rails 3 is making generators and app templates
work on the same code base.