If you are looking to auto create External Lists for all the ECTs defined in your BDC Model, I published PowerShell Script to Scripting Repository site on TechNet  http://gallery.technet.microsoft.com/scriptcenter/en-us/82437789-f294-4bcd-8210-a1ba0e081f82

Script will prompt you to enter URL for service context, BDC model name, and site collection URL and it will automatically create external lists in specified site collection for all external content types (ECT) defined in the specified BDC model