I have used such triggers for a while. Performance degradation is about 20%.

For non-heavy OLTP systems this is a simple solution that is working. We got 200+ databases every year and generator actually made the live is much easier. In addition, table and database parameters can be added to make generator completely dynamic without compiling the same stored procs over and over again. In my case it was completely dynamic solution and all procs were stored in support database. All I need to provide database name as parameter, flag for all tables or comma separated list of tables. Then the generator is creating a script and script should be applied to the database.