Unfortunately in practice I've found powershell hasn't been much of a panacea. You give up all the problems of parsing text, but now have new problems dealing with tools that don't output objects and getting them to do so.

I used powershell for some moderately complex workflow & reporting stuff but at the end was kind of on the fence about if I should have just scrapped it all and done it with traditional tools. It really felt like powershell made hard things easy but easy things hard. I don't think I would use powershell again unless there was absolutely no other choice.