Boris Petrov's (Bobo's) Famous 'Back From Five' script was taken on by someone and debugged and re-released in its full glory.
http://www.scriptspot.com/3ds-max/bff-2007 It says it is for MAX9 but I use MAX8 and have had no problems at all with it. (It should also work in MAX 2008)
So if you want to get your Max creations into gMax (IMO still the only way to go if you want to export to FS9) now there is nothing in the way.
With a bit of coaxing you could even do this!!!
A brand new model perfectly re-built in front of my eyes in gMax, complete with all mappings, ALL FSX materials with parameters and paths and even some of the stacks left intact. EVERYTHING exactly where it was in MAX!!!
It don't like .dds textures (nor does gMax for that matter) though. So get rid of any reference to any first of all.
No Animations alas however (I chose not to export them in the end) and you will, with FSX materials have to get rid of the line preceding the highlighted one each time the script falls over when importing. Eventually the script will complete leaving you with this.
An extreme trial for the script, not encountered in my regular use of it, but it triumphed in the end...