The first tests I did (you can find them in this forum) were done with Octane standalone, before Octane for Max was released, it was only announced: August 2011
I want discuss here only about the speed and interaction that we can find in these two Max plugins.
I tested both in Max 2014
My conclusions are that iray is free and we can disable it...

There is no interaction, forget what you find in Octane, the plugin often crashes my gpus (Titans) using the new brand feature called "caustics"
Ok, caustics probably is the best iray part (when it works)
Another cool feature are the Jeff Patton mats (not include in Max 2014) http://jeffpatton.net/2012/07/iray-laye ... -released/
I would like to see in Octane all those scripted mats, I don't speak about downloadable materials but scripts
Ok, watch yourself these two renders
At the fifth minute Octane for Max had reached the 30 minutes iray noise level.
Regards