http://mak.s13.xrea.com/ET/mdsconvt.zip
Here is a tool to convert mds to mdm and mdx.This is not finished, but can do jobs. I am working on it.
I am so noob at programming! so there must be bugs…sorry
detail info is written in readme.txt
I hope this could help you.
I take this is a straight conversion of an mds to one mdm and one mdx, not taking care of any of the animation sharing capabilities? If that’s the case, mods should just go with mds as it will work just fine. The whole point of the external animation data is so it can be reused by multiple meshes, significantly reducing overal memory footprint.
PS, no worries, official mdm/mdx tools are upcoming.