One error in the above - PC-DMIS is not ACIS based. It is proprietary (as is CATIA, Pro-E, SDRC Ideas. U/G is Parasolids, as is Solidworks, as well as others. AutoCAD, and a large number of other products (CAMIO by LK, CALYPSO by Zeiss) are ACIS. The question of whether it is better to use a thrid party engine or be proprietary remains an active debate, better left for elsewhere.
Nevertheless, it is generally true that packages continue to use some sort of translator - very often highly disguised. Most of the CAD/CAE packages offer their own CMM programming tools (such as ProCMM by Parametric Technology). Needless to say, these will use the native CAD model, but normally have to rely on a standard (usually DMIS) and/or a translator to develop the actual part program. The biggest problem here may be a limitation on functionality. For example, off-line products like Origin and SILMA interface with the native CAD model and offer a native TUTOR language module, but there are many functions available in PC-DMIS that are not available in TUTOR.
Everyone is trying to get to the position you want to be, including B&S. PC-DMIS using a direct U/G link was demonstrated at the 1999 Quality Show. In this mode PC-DMIS uses the actual U/G model (not translated) and writes PC-DMIS native code, giving you the integrity of the CAD model and the functionality of PC-DMIS.
It doesn't hurt to look.