if you enable the specular channel and just set up fills which only affect metallic and roughness (to keep them at steady values so you can forget about them), you can use the specular channel (which will work on the image-based reflections) pretty much as normal.
painter's shader doesnt use lights, instead it derives lighting from the images used for reflections - so there's no real way to have it looking like unreal engine 3 at the moment.
painter doesnt yet have a blinn or phong style shader to work with dx9 graphics, but they just opened up their shaders so we can plug in new ones - hopefully it won't be long before someone produces a UE3 phong shader, a blinn shader or something similar. it doesnt *seem* like that would be hard to do, so maybe allegorithmic will surprise us, after all, substance designer already has these shaders available....