Yes, I could, and it would indeed be simpler to just apply a photo mat to it that included lettering and use leather image as bump map, but...........   I want to do it the hard way for some reason.  I would like a model that the texture is really there and would alter its appearance with different light angles. (see image above with single radial illuminating the surface)

Could I create a rectangle, bury the lettering into the rectange as a solid, then use the terrain to negative boolean the textured surface.  I must try that tomorrow.  It's late here and they are calling for snow to start in a couple hours.