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Man, I've been messing with this for awhile now and without using the 3D Repousse tool in Ps Extended, I'm hard pressed to find a way to do this.  I try not to suggest to use the 3D tools because they require substantial RAM and at least a medium end video card to access and use these tools.  That doesn't mean it can't be done.  Here's a tutorial I found awhile back, but it is a cross-program project between Illustrator and Photoshop.

3D Textured Text Effect | Text Effects

Here's an example I made with Illustrator and Photoshop based on the tutorial from the link above.  In Illustrator, I used the Bevel and Extrude Effects from the Effects menu.  The bevel and extrude is located in the 3D sub menu of the effects menu.  Then I pasted the text as a Smart Object in Photoshop and applied some additional effects from the Layer Styles menu.

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