Trawled the net and came up with a proggie called Npherno’s MD3 compile.
Utter pants, all texture info is lost. After trawling a bit more, I noticed that Chavo One had the same experience with this program so I’m kinda glad it’s not just me 
So, what am I doing wrong, or what alternatives do I have?
I’ve got Max, so if there’s plugins that work, links etc would be cool - googling showed up nowt but dead links for importing ASE, and at that point I just kind of went ‘grrrrr’ regarding finding an MD3 exporter for it!