It's much much faster and way less overhead and it can be done without 3ds Max at all. This means free conversion of WoW models to Starcraft 2 format fast. Importing into 3ds Max with all the anim files and such is messy and can take large amounts of time whereas exporting from WMV automatically handles all the extra files, exporting just the TGA's involved with the model and the .M3 needed for the model to work in the Starcraft 2 engine. It simplifies the process.
Chuanhsing and CuteVisor have done superb work on converting the format. It's always a hard task to convert from one file format to another, even with decent documentation of both. The TGA's that WMV exports now work properly in the Starcraft 2 engine. The code is for the moment being updated consistently and it has great room for improvement, this means that once M3 particles are decyphered we can have a straight conversion of the M2 particles to the M3 format. The UI options can potentially include a host of tweakable settings and once it's figured out, exporting the difficult character models with their specific submeshes will be super easy rather than the complex mess it is to import them into 3ds Max and delete the extra meshes.
Overall this is a great step forward for the mod community as I feel we're finally moving away from 3ds Max dependency and moving into the open source environment.
Aye I'm very pleased with the work :D I regret that I can't contribute moreso to the coding side of things. On my next holiday break I hope to devote some time to the blender plugins people have been asking for but we'll see how I go for time.