I was planning to write an entry about the role and value of code metrics in refactoring and code reviews. I'll still write that up soon... But I came across this entry by Andrew Glover that covers a portion of what I was going to write about. He does a great write-up of the role of the cyclomatic complexity metric. I agree very much with the views he has put forth. Check it out!
Code Improvement Through Cyclomatic Complexity by Andrew Glover -- Overly complex code is dangerous, hard to maintain if not already buggy. But what do we mean by "complex"? The metric of cyclomatic complexity helps show where the most complex code is. As Andrew Glover illustrates, finding the complex code is also the first step to refactoring it.