Depends on the animation you're doing. I would try to sculpt it first without looking at inter-particle collisions. If it's not close up, you probably won't notice it anyway.
Using pflow tools box #2 with the physx collision would probably be a better alternative. You could use a low amount of particles, then create a high number of partitions in krakatoa to build up the volume.
3ds Max 2009 SP1, 2010 SP1
Maya 2012
Windows 7 Professional 64-bit
Dual Intel Xeon E5520, 6 GB Ram
NVIDIA GeForce GTX 460 OC