The SharePoint Capacity Planning tool can be found here. The executive overview can be found here.
The process of creating a model is very simple:
The UI is wizard based and it asks a number of questions, it's all high level stuff that shouldn't present any issues:
The notes from the overview point out that the tool gives a first approximation, we’ve found that it does a good job recommending hardware, but that the topology of the recommended farms could use some extra thought.
For example, if you created a single intranet site with 25000 users with a heavy collaboration usage profile, the tool will recommend 6 servers, 2 of which are SQL Servers. The tool recommends 3 web front ends and an index server.
Now I’m sure this would work fine, but some questions you could ask are:
Could adding a dedicated web front end that isn’t in the load balanced cluster but that is used to service the indexer add to the performance of the site, since the crawler isn’t competing with end users for resources?
The tool doesn't go into the logical architecture of the SharePoint farm, it's purely hardware related.
Overall I think the tool is very worthwhile, your planning should definitely include running this tool, but don’t let this tool do all the work, do a little bit of thinking for yourself.