Just came across this article here about what the author says is an evolution of Perlin noise that greatly expands the possibilities.
The source code is also provided (under the Code Project Open License), and this could potentially replace the Musgrave texture in its entirety and perhaps even the code behind the generic Noise node.
Why do I mention this replacing Musgrave, to my knowledge, this would be far more powerful, far more controllable, and also produce more or less the same results. I know there’s the issue with kernel pressure for the sake of GPU rendering, but it might be a bit less so if a nice chunk of the procedural texture code can actually be replaced with something that produces a much greater breadth of results. As a bonus, it looks like it would be possible to bake it to an image at rendertime if you want faster renders.
What do you think?