I really don't like Photoshop's inner bevel effect when the bevel is put to the maximum all the way to the center of the letter stroke. It bowls out at any corner or join of a letter. It even does this on a letter style where all the line segments are straight (such as ITC Machine for example). The only way to make the effect look right is to build it up by hand, which is time consuming. You have to create a center line on all the letter strokes and then use snapping, welding and cutting to create all the objects of the bevel effect. Some typefaces, such as Industry Inc, have weights that create a proper prismatic, chiseled look. And then there's new SVG Color fonts like Trajan Color that not only have a prismatic, chiseled look, but also include all the gradients for a 3D effect.