I noticed BPBD works correct with SM7.1 as of SP08
ebbconfig.txt file should be placed at root directory of BPB
In addition I'd place one useful reference http://infocenter.sybase.com/help/index.jsp?topic=/com.sybase.infocenter.dc38088.1650/doc/html/rad1350552438905.html "PowerDesigner provides support for round-trip import and export of Solution Manager v7.1 projects" here.
This tools will replace BPB I wonder.