DMG Mori made a CNC machine that can 3D print via laser deposition, then machine the part as well to hold tight tolerances.
Pretty neat, but i’ve always figured that the metal put down by laser deposition would be less strong than that from a billet. It seems to me that one would need to anneal the 3D printed portion and re grow the grains in order to obtain the same material properties as the billet that is used as the substrate in this video.
http://www.mmsonline.com/blog/post/video-additivesubtractive-machining-cycle