dRaster, creators of the NEX modeling tools for Maya have posted a look at using the custom pivot feature in NEX showing some pretty amazing capabilities and control for transforming various components in Maya.

The Custom Pivot adjustment mode will let you position and orient the pivot to anywhere in the 3D world. It also has a variety of functions that allow you to position and orient the manipulator with respect to polygon components and mesh surfaces

Although I have been using NEX tools for a while, some of the workflow for using custom pivots in NEX was surprising and a bit jaw dropping to be honest. With some pretty advanced pivot snapping and sliding the pivot along surfaces, and even setting the pivot orientation easily, NEX custom pivot feature is an amazingly elegant tool with some deep functionality.

If you use Autodesk Maya, and you have not used or tried NEX tools for Maya yet, I strongly suggest that at the very least, you check out some of the functionality NEX has for speeding up workflows for modeling in Maya.