Customizing SharePoint Life Cycle Assitant process

We are trying to automate some tasks. When a new draft is released we would like complete pdfs automatically created in the released folder.
When a released draft is up reved and thus moved to prerelease. We would like all released pdfs to be deleted.
Then once again, when the draft is released the pdfs will be recreated.

We are running ST6 MP7 with SharePoint 2010.

My question is how can we automate this process? We think that it should be done with custom code in SharePoint.
Is that the best way? What about Insight? Is there some configuration I could do with Insight that would take care of this?

I'm also curious if there are many people customizing their Solid Edge SharePoint solution? There does not seem to be to many posts on the topic here.
Are there others doing this kind of work?