I've been using this for years (output of 'echo $PS1' ):

  [\e[1;33m\u\e[1;32m@\e[1;31m\H \e[1;36m\t\e[0m]
  [\e[1;35m\w\e[0m](\e[1;32m\#\e[0m                                               
  )\n$

which presents as:

  [User@HOST 10:21:07][~](2)
  $

(Username, hostname, 24 hour local time, CWD, history count, newline, prompt)

More detail from my .bashrc:

  # Define some colors first:
  red='\e[0;31m'
  RED='\e[1;31m'
  blue='\e[0;34m'
  BLUE='\e[1;34m'
  cyan='\e[0;36m'
  CYAN='\e[1;36m'
  green='\e[0;32m'
  GREEN='\e[1;32m'
  NC='\e[0m' # No Color
  yellow='\e[0;33m'
  magenta='\e[0;35m'
  YELLOW='\e[1;33m'
  MAGENTA='\e[1;35m'
  export PS1="[${YELLOW}\u${GREEN}@${RED}\H ${CYAN} 
  \t$NC][${MAGENTA}\w$NC](${GREEN}\#$NC)\n\$ "

I define the colors as it makes it easier to modify PS1 when the spirit moves me.

I guess using a generator or toolkit could be useful, but I tweaked mine over the years and prefer it just this way.

Edit: I forgot to mention that I use different colors for user vs. root prompts, as that gives immediate visual confirmation of privilege level.