Hi Mark some good news from Autodesk, 3ds Max 2010 has SAT data translator, see demo video here http://www.autodesk.com/us/3dsmaxdesign/connection_extension/sat/3ds_max_design_extension_sat_820x510.html (note in the video they import .SAT files from Rhino)
I think that's the best way to go in to 3ds Max and if needed do the conversion in there. if your associate does not have 2010 then FBX is your best bet.

Also it seams to me that Autodesk is pushing .SAT among other products like autocad, revit, inventor etc.