I think this is a decent take on the issue:
Is dissociative identity disorder real? - CNN.com, by Dr. Charles Raison, a psychiatrist at Emory (I know nothing about him outside this article).
"There is no doubt that some people behave as if they have multiple personalities. And not all of them have been to therapists who have trained them to interpret their dissociative experiences in this way. Does this mean that dissociative identity disorder exists? In my opinion it depends on what we mean by 'exists.' Yes, dissociative identity disorder exists if by exists we mean there are people who complain of its symptoms and suffer its consequences. Do I think that some people have many biologically distinct entities packed into their heads? No. I think that some people dissociate so badly that either on their own or as a result of therapeutic experiences it becomes the case that the most convincing way for them to see their own experience is as if it is happening to multiple people."
I think the important question is, how does it affect treatment if we view DID as it's own entity vs PTSD + BPD? The same author continues from above: "I am personally less sanguine, however, about treatments that proceed as if each of the separate personalities really exists concretely and then work to integrate them again." But I personally don't know much about the treatment issues here so I'll leave that to others.