Harry Pierson wrote a great post on Code is Model (yes, I know, back in October).  I’m still not 100% sold on this idea, personally.  I think it’s a great ideal, but the modeling tools are going to have to get much better before this will be practical on a large-scale project.  MS is working on providing some of this abstraction with things like their Windows Workflow Framework, but even here the code sits below the model.