If the shrinkage of MIM is calculated and taken into account, it doesn't matter. As for machining, I have seen a fair number of MIM parts, and read about the process and the major advantage is that they don't require machining and show no sign of it.
The most intricate parts can be made by MIM without machining, an example being the S&W trigger. Investment casting can produce a solid part (e.g., a rifle bolt), but finish machining is needed to hollow it out, machine the threads, cut the bolt face, and so on. It is cheaper than forging, and less metal needs to be removed, but its main advantage is that investment casting can be done about anywhere (say, a shopping center factory), where forging requires large drop hammers that have to be solidly grounded and would shake a normal building apart.
Jim