

It's different from Windows, but works just as well.

With the ability to drag/drop files and folders onto open/save dialogs, the Go To Folder command in Finder, and the ability to navigate the folder hierarchy in Finder by Command-clicking the proxy icon, and the Go menu in Finder, there is little missing you might need for navigation. These approaches handle Terminal/Finder exchanges. Drag it into a Terminal window and the path to the folder will get inserted at the current cursor location. In the other direction, you can use the proxy icon (the folder icon in the Finder title bar). will open your current working directory in Finder, open. Regarding your edit: Just use the open command in Terminal.
