Problems with Asp.Net ProfileCommon class?

I wanted to use built in provided profile provider which is shipped with ASP.Net. I created a Web Application Project (WAP) and figured out that ProfileCommon file is not generated anymore automatically as it has been done in previous visual studio project solution templates.

After quite a while of researching I understood that this seems to be a common problem - it's not worth to write a fully custom provider only for some profile specific settings.

The good issue is - I'm not alone with this problem.

The better thing is - it has been already solved by a project which is available on code.msdn.microsoft.com: Web Profile Builder - thanks to robolize to come up with this solution and sharing it with us.