Had a similar need. $compile
does the job. (Not completely sure if this is "THE" way to do it, still working my way through angular)
http://jsbin.com/ebuhuv/7/edit - my exploration test.
One thing to note (per my example), one of my requirements was that the template would change based on a type
attribute once you clicked save, and the templates were very different. So though, you get the data binding, if need a new template in there, you will have to recompile.