I have already tried something like that. After loading object as mesh I loosed all my texture coordinates - this is not acceptable while working with real complex texturing. My program work (now, without object-merging) this way:
0) Load dbo-object with texture at stage 0 (this is a clear light map without base texture and with UV-slicing as hard as hell

)
1) Load and set texture on stage 1 (my diffuse map, normal UV)
2) Load and set texture on stage 2 (my bump map, normal UV)
3) Load and set texture on stage 3 (my height map, normal UV)
Really, after mesh-loading, UV for slicing on step 0 is missing, and it's terrible
Sorry for my bad English.