assuming you're using 2010 or 2011, under the feature line pulldown on the create design panel of the home tab on the ribbon, choose "create feature line from alignment"
if one use this method...keep an eye out for these settings:
Profile
Specifies a vertical alignment from which to acquire the elevations for the feature line. Click to select a profile in the drawing. If the alignment does not have a vertical alignment, you can create the feature line only while the dynamic link option is disabled. For the dynamic link, a vertical alignment is required.
Mid-ordinate Distance Sets the vertical curve tessellation factor.
Spiral Tessellation Factor
Sets the clothoid spiral tessellation factor.
Weed Points
Specifies whether to open the Weed Vertices dialog box so you can weed the objects when converting to a feature line. Change this value to True to open the Weed Vertices dialog box.
And note that this tool has the ability to LINK the feature line to the alignment/profile for dynamic updates to the feature line, and any gradings created from it.
The method I posted is more or less the 'old' way, as I haven't fully incorporated all the 'new' features into a coherent workflow