Open iTerm or Terminal with current Finder path

readme.txt

Launch Automator and select Application, add "Run AppleScript" action and paste code from TermLaunch.scpt, save app as TermLaunch.
You can replace icon /Path/To/TermLaunch.app/Contents/Resources/AutomatorApplet.icns to 
/Applications/Utilities/Terminal.app/Contents/Resources/Terminal.icns for example
Use Cmd + Drag to place app on Finder toolbar

TermLaunch.scpt

on run (input)
	set fPath to (quoted form of finderPath())
	
	-- Trying iTerm app
	set itermPath to do shell script "mdfind 'kMDItemCFBundleIdentifier == com.googlecode.iterm*'"
	if itermPath is not "" then
		do shell script "open -a iTerm " & fPath
		return
	end if
	
	-- Trying terminal app
	do shell script "open -a Terminal " & fPath
	
	
end run

on finderPath()
	tell application "Finder"
		set currentPath to the POSIX path of (target of window 1 as alias)
	end tell
	return currentPath
end finderPath