well yeah, there's the same in Max. to sum up, you can map it the way you want, give bump maps, regular diffuse maps, specular maps, even use procedurals, reflection maps, etc. to make it really how you want, put lights around the mesh and set them up to have the shadows and reflections on the mesh exactly how you want them. Then you run your mesh through the render to map tool, and hop! it'll make a single map out of EVERYTHING, shadows etc included, along with the propper UV mapping, of course. But if you want, you can have a couple chanels for each stuff, it'll make one bump map, etc, gathering the infos of all the materials used on the mesh. That's one fine tool if you ask me
