The problem with that suggestion is that OBJ export from PhotoScan is extremely slow for large (20 Mio. faces) meshes when compared to PLY, by an order of ten or more.
I found 3rd party PLY importer plugins for 3ds Max and Mudbox but none for export.
So right now, I am exporting from PS as .ply format, import that into 3ds Max, post-process the mesh/UVs, then export from 3ds Max as .obj and re-import into PS for projecting/blending the textures.
None of this works for camera data, which can only be exported through FBX, which causes 3ds Max to rotate and scale the mesh because of incorrect data in the FBX. I can probably figure out how to compensate for this transformation, but I was curious to hear how this is supposed to work officially.
Martin