Well, it is said that if you have Photoshop, create something!
I had this idea in my mind & had to put it on my artboard.
So, if you are a Photoshop enthusiast & want to know how to do this text effect, jump over to the site, PhotoshopTutorials, for whom I wrote this tutorial for!! In this tutorial, I have shown, how you can make a stylized 3D textured text effect using various textures to give it a unique look with Illustrator & Photoshop.
Also, check out there site for other fab tutorials, one of my other tutorial is also gonna published there soon!!
*Edit March 4-2009
Hurray! My tutorial has been listed on this article: 50 Stunning Photoshop Text Effect Tutorials by Smashing Magazine.