My understanding is that this is what's usually done. At the very least that's the default packing for Substance, and most example shaders i've seen use this scheme (although I mostly use UE4).
Typically i would try to put any kind of binary information, or information that doesn't require a lot of precision (metallic is a good example) in the blue channel, as that is the most heavily compressed.
When I tried to pack normal map with other texture, it looked really bad. Default normal map compression looks better. If there are no metallic details, I would pack height instead of metal. Theres no reason to have full-black metal texture for brick wall, for example.
Well, actually I want to keep some flexibility when adjusting metallic factor and that's why I want to keep it there. Also height map should NOT be compressed using DXT1, as I think about that... Isn't height just as important as normal map? For example look how similar they are when using bump instead of normal mapping.…