The FireUp gem gives you the fire_up command to automatically open the files and start the processes you need to work on your Rails project.
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FireUp

Developed by Chris Powers, March 27, 2010

What Does It Do?

The FireUp gem gives you a handy fire_up command that will fire up all the iTerm tabs you need for your project, and opens the project up in TextMate. FireUp uses a CLI dialog to get your project preferences and stores them in ~/.fire_up_config.

What Software Is Supported?

Right now support is admittedly narrow, it only supports my personal workflow of using iTerm for a terminal and TextMate for my editor, and it also assumes that projects are already running on Passenger.

I would like to eventually add support for using Terminal, other text editors like vim and emacs, and add the ability to fire up Mongrel / Thin / Unicorn servers rather than just Passenger.