Index: django/newforms/models.py
===================================================================
--- django/newforms/models.py	(revision 5993)
+++ django/newforms/models.py	(working copy)
@@ -77,6 +77,8 @@
     determining the formfield for a given database field. It's a callable that
     takes a database Field instance and returns a form Field instance.
     """
+    from django.db.models.fields import NOT_PROVIDED
+    
     opts = model._meta
     field_list = []
     for f in opts.fields + opts.many_to_many:
@@ -86,6 +88,9 @@
             continue
         formfield = formfield_callback(f)
         if formfield:
+            # Set the initial form field value based on the model field's default value.
+            if f.default != NOT_PROVIDED:
+                formfield.initial = f.default
             field_list.append((f.name, formfield))
     base_fields = SortedDictFromList(field_list)
     return type(opts.object_name + 'Form', (form,),