Definitely make a blender plugin, also I suggest you make it for the 2.5 beta, not for 2.49. 2.5 has different scripts I believe, and is the future and main version of blender, so making the script for 2.49 is fairly pointless.
Biophysicist mang, where ya been? I haven't seen you on SeN or chat or anything :O
The prob with 3Ds Max is, some of us are not some serious modelers. Some would do models casually and rarely. 1.5 GB and tons of tools and things to learn that some will never use, that's too much for a casual modeler and that's what 3DS max is.
I've always liked Milkshape, 17MB and you can work so easily with it. What are really the reasons you can't use MS3D with SC2? I'd like to know, because if it is only not making more complex animations, that shouldnt be a problem for those who do some dooodads, Buildings that dont need much effects and FX can be done via triggers. I personally do only futuristic buildings and rarely, why would Milkshape be bad for it? I hope someone also thinks of making an MS3D plugin for M3.