If your referring to Character Creation System (my program) then it WILL import 3ds max models, you just need the correct exporter/export settings.
You need pandasoft exporter, which is on the FPS Creator website.
The guide says you need fragmotion because most cant afford 3ds max. What "old Version" do you have? if it supports the pandasoft exporter, your good.
I think its worth noting that C.C.S. ONLY imports what FPSC would anyway, to avoid conversion problems and things like that, so if it wont open in C.C.S, it wouldn't open in FPSC anyway.
If you do want to go the milkshape route, there is a milkshape biped file for FPSC characters on my site as well, i haven't used it in ages, but it may still work. If you have the "Characters halfway thru the floor" problem, then search the forums for another thread that updated it (i cant remember if i updated the zip on my site or not)
On a lighter note, Character Creation Studio sounds better then Character Creation System... Should have thought of it
http://www.fpsc.seqoiagames.com