a new component for 3D studio max has arrived that allows you to export the geometry of you model directly into a format that actionscript 3 can understand. the plugin has options for exporting to papervision3d, away3d, and sandy. it was developed my seraf and can be downloaded here. and exporting a model couldnt be easier. 

step 1. create you model, and select it 
(you can tell its selected because of the white bounding box)

step 2. open the utilities panel and select MaxScript

step 3. in the MaxScript window, select Run Script

step 4. select the as3GeomClassExporter.ms file,
then select it from the drop down

step 5. a new as3GeomClassExporter panel will appear. select you 3D engine, give your object a class name, and a package location (if necessary) then press the export class button to save it.

now using this object in papervision3D is a snap! just...

import com.fontvirus.KnotAgain;
var theKnot:KnotAgain = new KnotAgain( skin );