Designer babies...right or wrong?

We all know that designer babies are likley to become the 'thing' of the future. The rich will be able to change their childs eye colour, hair colour or possibly even how intelligent they are. Medicine will be able to advance to an all new high, with Downs syndrome, Huntiongton's disease and Tay-Sachs being all but distant memories. However despite the useful applications this debate has sparked vast ammounts of contraversy, is it right to play god? Well this is the topic i have to debate for a university project in 2 weeks...and any arguments you guys can give me for and against genetic babies would be highly appreciated!!! Thanks for your help