looking good dude. I'm not sure how max handles text, but maya's direct text is poo.
Anytime I do it to inset I use create poly
in maya. its easier to optimize for me that way, which I've found important because even short words = an ass ton of polys to manage once add control edges and start beveling.
As for text in photoshop, yeah for speed and ease its unbeatable, but its not as cool as insetting it on the hp
I think the inset is fine, it'll make stripping a copy of the high for the low easier, if that is indeed your work flow XD, though I do think the edge might be a too tight for good baking.