Sure. The difference is that with ImageMagick is getting all the flags right. Not to put down a powerful tool, but it isn't exactly memorable. In a script you can describe what's happening and customise it at any point without in-depth knowledge of the tool, and with a friendly CLI environment. I'd rather write 5 lines of Ruby than read up on the ImageMagick flags.
If you want to script it, ImageMagick or GraphicsMagick are probably a better bet than trying to hack up something with GIMP batch processing: http://www.imagemagick.com/www/formats.html
If you just want to do basic conversion ignoring layers, it's quite easy:
for f in *.psd; do
convert "$f" "${f%%.psd}.png"
done
Gimp's support for PSD is understandably poor for the more advanced/modern features, so I wouldn't rely on it without being able to compare the output to something else. I use Apple's Preview utility to manually compare results.