Hi 3DVim!

To answer your question, no.  To achieve the effects of Zbrush's two and a half D ( Brush modeling) enviroment in Lightwave,  It would involve Lightwave( Meta Tools,  Morph Mapping,  Normal Mapping, and or  Weight Mapping,  ),  Photoshop(Black and white image),  and for convenience TrueArts plugin TrueBump.  As you can see three programs as opposed to one.

As for the bundle deal,  I believe Newtek ended it with the release of Lightwave 9.0.

Cheers!

patorak