Scriptio is a little utility I wrote when I was unhappy with the scripting features in SQL Server 2005. The biggest problem I faced was that I couldn't script a DROP and CREATE in the same file. I'm pretty sure that's finally fixed. The utility gives you all kind of scripting options now.
This is a companion discussion topic for the original entry at http://billg.sqlteam.com/2008/06/05/scriptio-available-on-codeplex/