I use the 3DS export all the time. It works fairly well but with some pretty significant limitations.
- textures do not work well
- my animation settings never quite work right, same for skeletons
- NURBS objects work much better if you convert them to polygons effect>convert
That generally leaves me with just objects to be re-animated and textured in 3ds. For complex scenes, if you are just going for standard output, Softs' scanline renderer and Mental Ray beat 3ds any day.
Check out www.digitalsteak.com, I modeled the steak in Soft then exported to Max, animated, then rendered to Flash with Vecta3d
Lesoleilnoir