Version 4.x.66.0 (07/03/2008) of the Exporter supports:-

Mesh Vertices

Mesh Faces

MMesh Normals (optimized list)  - supports custom normals

Vertex Colours - if they are set in 3DS Max

Mesh Material List - Global and inline

Materials (uses [Standard] max diffuse map as DX texture map)

Mesh Texture Coordinates - multi uv sets using FVFData (upto 8 channels)

Material Textures - bitmap conversions to .bmp, .jpg, .png and .tga! and scaling to nearest power of 2

Text/Binary Mode/Compressed X file

XX File Frames - with full hierarchy

Animation - Named Animation sets

Skinning using Character Studio Physique and Max Bones/Skinning (Not Biped)

Left handed axis conversion (DirectX and XNA .x content pipeline)