So In my 3D PAC-Man game I don’t want a GUI, I want a Giant Billboard that has your score, amount of lives, and amount of things left to eat, is it possible to have in game dynamic text not on my GUI?
Try to create a canvas and set rendermode to worldspace.
Take a look at this live training session.
This video has a lot in it, but in one of the parts it shows how to use a second camera to display things on the screen like score and health etc without using a GUI, you can do this by using a canvas as well
http://docs.unity3d.com/Manual/UICanvas.html
Close to the end of the session Mike shows how to create a second camera to display what that camera sees on a billboard/jumbotron. You can use this and the canvas element to display everything you need on the billboard that your player would be able to see