I can launch an xterm from the command line (or a program, via a system call) like so:
/usr/X11/bin/xterm -fg SkyBlue -bg black -e myscript
That will launch an xterm with blue text and a black background, and run an arbitrary script inside it.
My question: How do I do the equivalent with Terminal.app?
You can open an app by bundle id too, and give other parameters.
If there's an executable script test.sh in the current directory, the following command will open and run it in Terminal.app
open -b com.apple.terminal test.sh
The only down side that I can find is that Terminal doesn't appear to inherit your current environment, so you'll have to arrange another way to pass parameters through to the script that you want to run. I guess building the script on the fly to embed the parameters would be one approach (taking into account the security implications of course...)