I came back upon this thread accidentally when searching for a solution to a different problem. I have, however, come up with a solution to THIS question. (my apologies in advance if someone else posted this…I just worked this out this evening, although I’m sure others have discovered this)
Clone the mesh in UV master (and if you don’t already have assigned uvs, make and copy them so you can paste into the mesh later). Uncheck the show polyframe button and in the Geometry subpalette uncheck “smt”. Subdivide as much as your system permits.
Paint and use spotlight on these flattened, subdivided, cloned UVs and then in the tools texture palette, select “new from polypaint” . Clone the resulting texture so its saved in the main texture palette.
Reload your low rez model (paste the copied uvs from UV master if necessary) and apply your hi rez texture.
Other then applying things like labels to perfectly layed out UVs, I’m not sure how useful this technique is since there are no UV grid guidelines to work off of but I found it an interesting thing to play around with.