n-e-r-v-o-u-s stuff is amazing and it is true product that is algorithm based.
Neri Oxman does a bunch of two color printed stuff, but art, not product based, in my opinion. Wired magazine print issue from a month or so ago was a great read.
This is more algorithmic as opposed to parametric. Grasshopper is the tool that has defined and changed the game. Older visualizing tools such as Povray and isofields will get you somewhere. Writing your own code is the most powerful option, although a serious learning curve.
Try to find the form and the logic as opposed to the novelty in this approach. Right now for the most part all I see in the resulting works is a fascination with the process and the newness of it, I see little that extends beyond that for the purposes of design. Art is another matter, beautiful shapes.