This isn't a total solution, but it might set you on the right track. It seems that Terminal.app will take any arguments that you pass it, and execute them as UNIX commands. For instance:
Code:
open -a /Applications/Utilities/Terminal.app /usr/bin/top
will tell Terminal.app to open the program /usr/bin/top. A new little window will pop open, and top will be running inside. Quit top, and it will say Process Completed. You can also get the same results by dragging the program onto the Terminal's icon in the Dock. The only thing I haven't figured out is how to specify the window size at launch. Knowing that this works, you should only need to find a way to script it.
I was actually trying to figure this out myself, once, but since I'm no AppleScript expert, I was having trouble telling Terminal.app to open a particular file. Let me know if you come up with anything.