At the risk of sounding misinformed, I'm under the belief that this is basically useful for RAD and fast sketching of an application.
It feels somewhat Ruby-esque in the sense that it scaffolds pretty much everything you need from a CRUD application. Easier work for us, right; and most people are none the wiser.
I'm fairly green in the workplace, I just start working at an actual job as a developer (cubicles and free coffee) so my opinions might be a bit on the green side, but I'd love some comments from more senior people.
Is this somewhere between MVC2(basic scaffolding) and Microsoft Lightswitch(wizard-driven development)? Is it worth ivesting in?
One of the best uses I've heard for Dynamic Data was to quickly build up an Django-like admin section for a site. It doesn't have to be "perfect" since it isn't aimed at users, but it does give you some nice usability quickly and easily.