There's a nugget of a great idea here, the realization that there has to be a better way to describe schematics than drawing them. Unfortunately, most comments seem to be distracted by the trees of what is started here and are missing the forest that is the potential. (Aside: ever stuck on a problem or need to prompt someone else to start talking through a problem, especially in an interview? Ask "what's the worst solution that could be argued to work here? How do we improve it?")

So, what would a more exciting example include? How about sensible "default initializers" so that I don't have to wire up all the power pins, decoupling caps, pull-ups, pull-downs, and no-connects that 98% of the designs for a particular chip need?

What if instead of having to draw this: http://e2e.ti.com/cfs-file/__key/communityserver-discussions... I could just enter:

  cpu = msp430(vcc=3v3)
  storage = sdcard(vcc=3v3)
  sd_bus = storage.connect(cpu, I2C_FAST) # let cpu and storage negotiate their pins
  # sd_bus is now a list of nets that make up the connection
  utils.apply_pull_ups(sd_bus, 50K)

That's all very possible, computationally, but so much less tedious than drawing it out and so much more descriptive of what I'm actually trying to achieve. As a bonus, it has properties programmers forget so many other people's tools don't: it's good for line-based diff, search/replace, and source control.

Another example: Most of what's going on here: http://www.mikrocontroller.net/attachment/162013/freqgen.png is defaults (it's also, and I wish I could say this nicely, in my opinion a very poorly drawn schematic). Instead:

  loop_filter = utils.third_order_bandpass(freq_min, freq_max, RC_ONLY)
  freqgen = adf4350(vcc=3v3, cp_filter=loop_filter) # boom, all sensible defaults
  for pin, color in zip(freqgen[LD, CE, LE], ('green', 'red', 'yellow')):
      pin.net.connect(status_led(color=color, brightness=30mcd))
      # let the computer work out your resistor value
  freqgen[RFOUT_A].connect(BNC(50Ohm, SINGLE_ENDED))
  freqgen[RFOUT_B].connect(BNC(50Ohm, SINGLE_ENDED))
  # let the computer work out that it terminates the complementary output

The linked project isn't nearly at this point, but I consider it in the same spirit. We have to go through the awkward solutions while we iterate towards a great one, I would say.