PowerShell is slowly but steadily gathering steam if one were to gauge by the number of powershell projects in codeplex. PowerShell 2.0 is now available for download from the micorosft site: http://support.microsoft.com/kb/968929. The powershell version 2.0 includes a script editor which is called Powershell ISE, the editor makes it a lot easier to write powershell scripts. Here is a snapshot of how the Windows ISE Editor looks...
The other way is to make SMO calls and instantiate SMO objects pertaining to SQL Server. There is a popular SQL Server PowerShell Library availalbe in Codeplex called SQLPSX, the latest version is 2.1,here is the link: