Parameterization vs. Web.Config Transformation

I was recently asked about being able to change values of different variables like ConnectionStrings, Installation physical directory, app Settings etc during install time rather than build time, so I thought it might be worth while to de-mystify the concepts around Web.Config Transforms and Parameterization. Web.Config Transformation Geeks say Web.Config Transformation is a great feature of Web Deploy (aka MsDeploy), well the first part about being a great feature is true :-) but it is important to note that Web.Config Transformation is not a Web Deploy feature but it instead is a VS 2010 only feature.  Web.Config Transformation is connected with Build configuration of MSBuild/VS/Team Build etc.  Its XML transformation engine is wrapped...(read more) ...