Ptex finally made its way into Blender (or vice-versa?) As many readers probably have noticed already, while this is not yet in trunk there are builds for it from Nicholas Bishop's branch on GraphicAll ready for testing. Ptex was made and released by Walt Disney Animation Studios as open source in January after support was added to some softwares like Pixar's RenderMan before that and then later by 3D-Coat.
Ptex could make model texturing less painful since there will be much less need to mess with around artifacts from UV unwrapping and seaming. It also allows controlling over per-face resolutions and works well with subdivision. These videos were taken from Nick Bishop's vimeo site (Thank you very much! I for one have been longing for Ptex!) showing Ptex with overlay painting and multires.