In Delphi 2009, In one of my projects, I have a custom frame with some controls on it which I want to use as the base class for some other controls. I want to register this
I have fairly extensively explored using TFrames (and their related inheritance) as a base for component development, and could elaborate on what I've found if it would be useful, but I have never had need of using RegisterCustomModule -- I just develop from TFrames directly, using normal frame inheritance, and then register the resulting "final" versions in a standard component registration unit. This seems to allow the best of both worlds (visual development + inheritance, plus component palette + object inspector capabilities).
There are a number of little tricks to it though, and snags to watch for, such as how you name the TFrame itself, making sure the DFM files use "object" or "inherited" properly on the first line, and, in general I have found it very beneficial for stability of complex inheritance trees to create a "base frame" that inherits from TFrame, but adds NOTHING to it... and then inherit all the others from there. (This seems particularly true when adding published properties etc).
Tell me more about why in particular you are wanting to use an IDE Wizard, and maybe if that is not cast in stone as an approach, I can be of more help.