It Mach3 will import .bmp and .jpg files, but you can not do a dimensionally correct 3D machining with a photo. The problem is that the interpretation is based on the color intensity, or more likely the shade of grey. Usually black is the lowest point and white is the highest point. For most of a face, this is OK, but eyebrows, dark hair, eyes, etc. are "sunk" into the 3D machining. I have heard that if you make the maximum depth .030", it looks pretty realistic.
Look at PhotoVCarve. They have some software that is not too pricey.