Yesterday I finally got round to reading an interesting article on Smashing Magazine about BEM. Without knowing about BEM previously, I've been writing a tool at work that does the manipulation of BEM source dynamically (and runs a custom pre-processor on it) meaning that developers don't have to alter code for element movement, attribute setting or page layout changes. More detail on that over the coming weeks once the tool development is complete.
I recommend that the BEM article gets a read. In these days of Model-Driven Development, BEM can be an extremely powerful technique in making rapid code generation possible for web pages.