> If I can automate the work that I currently hire fresh grads to do - the work of actually drafting up contract agreements for review and wills - but price my services just under the prices offered by other firms then I can make a killing.

This is probably true, but has a definite knock on effect that breaks the existing training model pretty badly.

I suspect the longer term stable solution is relatively fewer working lawyers relying more on tools - but transitioning the industry to that model will be painful.