3D Coat Per Pixel Painting with displacement looks great in Toolbag:
http://3d-coat.com/forum/index.php?showtopic=17145

If you want to see some 3DC magic check out this video:
https://www.youtube.com/watch?v=6kUEM9eoesc

and if that's not enough:
https://www.youtube.com/watch?v=h1YbVaeM8W8