(Also see thread Model Along Live! More Machine Parts! by @TheOnlyAaron.
I have taken the first example, calling it A-ISO.)
You can do something similar to ‘Match Photo’ with crisp isometric images.
Your image doesn’t look that well though.
Here goes.
Create a cube frame along the x/y/z axes.
Create a diagonal face inside, using this frame.
Place your isometric image on this face. It will have the perfect angles in space to work ontop in ‘Paralle Projection’ mode with ‘ISO’ view.
Scale the ISO.png to the correct size!
The machine part that @TheOnlyAaron provided wasn’t crisp, although I used it to model the part.
To demonstrate that this method works I then made a new ISO.png from that 3D part.
when superimposing both ISO.png and model they perfectly match.
So in other words: with a crisp ISO image you could model ontop of the ISO/Parallel mode view. More or less as Match Photo.
@TheOnlyAaron’s image
My 3D model exported a png
The procedure to demonstate how they match.
Rotated view to prove that the model is actually / could be created on the image.