My model exporter exports animated models in the MDL4 format. I usually load
them into MED to assign and set the skins, then save them out as MDL7.

I know MDL7 is more accurate than MDL5, but since the model was animated
as MDL4, do I really gain anything by saving it as a MDL7, or would I get
the same quality if I saved it as MDL5? If so, this would really help me
save on memory usage. Any thoughts?

Thanks!

I dont see any difference in model animations between the two formats in my
situation, so I am assumming I am not gaining anything but file size by saving
the imported MDL4 as a MDL7 rather than an MDL5.

I noticed that MDL5 dosent support external textures? I couldn't find this in
the manual, but it seems it does not. Its a pity because if you dont need bones,
MDL5 is a huge memory savings. Is it possible we will see MDL5 with external
texture support in the near future?

Afraid not - MDL5 won't get new features. The only format that's further developed is the final one, MDL7.