The subject says it all really.

Will the PWM outputs, with a suitable series resistance and load (with a capacitor to provide smoothing) give me the equivalent of a DAC output?  I just want an easy way to drive a 200mV digital meter to use it to display a value generated by my pokeys56e.

Further to that can I read an A2D input and feed the result out to one of the PWM outputs using the supplied software?

Apparently I missed this topic, so this is coming a little bit late...

Yes, you can use PWM outputs with an appropriate RC low-pass filter to simulate analog inputs. You can even try to hook up a digital meter directly to PWM outputs as some of the meters already have a low-pass filtering built-in.

You can assign a value of the analog input to an unused Mach3 DRO register and use the same register as the duty cycle of the selected PWM output.