Just saw this:
http://www.nodejoe.com/index_en.php
NodeJoe is a plugin for 3dsmax that allows you a quick, clear and easy way of working with textures and materials. It uses the 3dsmax internal data structures to provide compatibility with all the materials and textures that work with 3dsmax.
they have a free version to download
edit: here is a screenshot
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I personally don't mind using the default Max material editor, but I can see how people would appreciate the advantages of a node-based system... might give this a shot myself, thanks for the heads-up!
It is a quick way to play around and get different results and get what you are actually shooting for in the materials.