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If possible with the new Field API, it would be helpful to be able to use tokens in the default values for fields. This was requested by Bevan in the comments on another issue (http://drupal.org/node/691078#comment-3813316), but I couldn't find where a separate issue was ever opened for it.
EDIT: There is amodule for 7.x based on code in this issue at http://drupal.org/project/field_default_token