@Talon: In the Preferences > 'General' tab > 'Ref. Coord. System' > check 'Constant'. This will keep your transform mode the same across all transform tools whenever you switch it.
Nah, multi-gizmo is handier because you set it up once and can do anything. In Max if you want to jump to local mode, you'd have to take each transform tool,then set it to local space, then do your work. And you still have to find the handles if you switch using shortcut keys...