Once we can generate makefiles, our next desire is to be able to generate "starter" installation profiles from existing Drupal sites. Perhaps this will not be able to produce a clone of the selected site, but it should be possible to take a lot of the rote work out of starting up a new profile.
The attached patch is a proof of concept. It does generate installation profiles for the selected Drupal site, but so far I have not tested the output (e.g. with drush site-install).