The aim of DM always was to get decals out of Blender, and that's what the 1.4 release now does. See http://polycount.com/discussion/comment/2571370/#Comment_2571370 for details Also, there's nothing more nondestructive than the decal workflow, IMO.
Hey man, ☺ here we are again, discussing workflow enhancements. I have actually been pondering this myself. Although decal machine looks great it looks to be more suited to staying in Blender. It uses baked mesh decals and POM. Also, Blender has a native PBR viewport. As in a lot of cases with Max we have to hack it…