I am using mudbox to model out an old/worn out picture frame...from this picture:

Old picture Frame

I have some good advice from another forum about the workflow being:

"for this i would bake a ao map or some shaders in maya/turtle...
and paint a texture in PS..."

But I just want to clarify some points with you guys about it...

Can you extract an occlusion map directly from Mudbox? I think I know how to achieve that in Maya...but I remember seeing a tutorial about it via MB on youtube.

But my main question is painting the texture in Photoshop...What kind of workflow is involved here?

What workflow would you use?