Textures from images

Hi 

I do have a problem. I would like to texture part of the wall with the picture of a fresco and another walll with actuall picture of the brick. The old Descrates allowed for wraping the image to the object. I do not see that option here. I was thinking abou cration of a new texture with the image but I have a few problems.

1. Will that not degrade quality of the image

2. How to aplly it in the right place - I do have 3D coodriantes of all edfes of the fresco and I would like to place it in that placec exactly (this is not a flat wall)

Could you tell me how start doing that?