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David Shroyer published an interesting paper about a Different Approach to Implementing Time Calculations in SSAS. It is something I would have found the time to write since Analysis Services 2000 (I have being using a similar approach since then) and is a very good guide on the whole topic.
I completely agree that the Time Intelligence Wizard could generate a better MDX implementation. There are other consideration that can be made about Time Dimension and I hope to be able to write something about this in the next future... now that I found this good paper, I feel less pressure for doing that!
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About Marco Russo (SQLBI)
Marco Russo is a consultant, writer and trainer specialized in Business Intelligence with Microsoft technologies. He runs the SQLBI.COM website, which is dedicated to distribute resources useful for BI developers, like Integration Services components, Analysis Services models, tools, technical information and so on. Marco is certified as MCT, MCDBA, MCSD.NET, MCSA, MCSE+I.