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May 28, 2009 06:16 AM|LINK
Not as far as I know.
Though an Entity Data Model is an XML file, it is hard to expect to find a tool that can take any XML file and convert its format to that of an Entity Data Model.
You're better off building the Data Model using a bottom up (database first) or top down (model first) approach. Afterwards you can always adjust the model through the designer or by manually manipulating the underlying XML.