We've developed a couple of apps using ORM and E/F. As far as I can see, they are supposed to obviate the DBA.
And they worked -- for a while. But since they created no indexes, it was only a matter of time.
They sure do generate a *lot* of bad code. Cursors that will only ever retrieve a single row!
And repetitive database calls. Lots and lots of those.
At the end of the day, they generated more work than they saved. They've since been re-written.
We've learned our lesson: no more E/F.
My $0.05. (Canada did away with the $0.01 coin).