Hi.

What makes me suspect that there is a problem with MED is that old models created with older versions of MED work fine and the new ones don't show at all.

My textures are 24bits TGA without alphas and sometimes I work with DDS for shaders. All textures are power of 2

The current models I am working with don't use any alpha.

What material settings in the 3DS do you mean?

I will check your sugestions and keep you posted.