I've just released a new tool for automating many of the steps in creating a model for the Valve Source Game Engine inside 3ds Max. The tool is not in a final stage, but it is now where I think it can be released for use and input.
Wall Worm Model Tools DownloadWhat this tool does:
1) Makes QC (text files) required for compiling models. The QC parameters are controlled by the models/settings made in the 3ds UI.
2) Set collision models--and automatically apply the necessary smoothing groups
3) Auto-generate LOD models
4) Control LOD switch distances with visual tools
5) Export all models into SMD files along with the QC file
I've only tested the tool in 3ds Max 2011 64-bit.
Please share any feedback and bugs.
Wall Worm Model Tools Download