Brewtarget is a free open source application built for Linux, Mac, and Windows that helps users create and manage beer recipes. It implements BeerXML and is therefore compatible with Beersmith. The ultimate goal of the project is to be able to take a set of user-given constraints and immediately formulate a recipe. You know what, why don't you just check it out in this video demo...
2012 is the year I'll start producing my beer.