Try to understand what is "texture baking". (Google it)
Than take a look for "UV-unwrap".
After understanding that its easy.
Normal/Specular Maps are just another technique applied to the model.
If you are more interested in i can send you a full guide for 3D Max.
I don't think we are going to change much about the polygon count on models.
Guess we will just upgrade textures, so all you need to do is to scale up the UV Map, which is little more then a vector,to a bigger texture size and get down with the artsy painting stuff.