Robot Gilardi has created a Python tool for Maya that mimics the functionality of 3Ds Max’s Inset command, which in a lot of cases is a greatly handy tool to use when modeling. Check out the script at RobotGilardi for a quick video on the inset command for Maya’s use, and download.
Hello! Thank you for posting this =)
I have put this tool on creativecrash for easier updates. I have fixed some bugs and have not had a chance to update my website with the changes.
For the latest version of the tool:
http://www.creativecrash.com/maya/downloads/scripts-plugins/modeling/poly-tools/c/maya-inset-tool/
(More updates in progress)