This is something Tor Frick has been using in Modo to quickly bake assets from a high poly bypassing inserting support edge loops and topology edge flows ( a time consuming process).
This presents really fast turn arounds when in the modelling phase significally decreasing the modelling process of creating high and low poly assets for use in game engines.
Vray for Maya has this feature but unfortunately you cannot bake normal maps from the "high poly".
Maya should implement this feature and help game industry artists improve their speed and workflows.