New version V-RayMtl Converter 3.0 is out!
"V-RayMtl Converter 3.0 - The useful tool for automating such a time-consuming process as converting different types of materials (currently supported: Standard, Raytrace, Autodesk Material, Architectural, mrArch&Design, Corona Renderer, NVIDIA iray (unofficial), fr-Advanced, Brazil Advanced) to V-Ray materials, as well as reverse conversion to Standard materials (which is very useful for game developers, modelers etc.)
V-RayMtl Converter 3.0 is a new version of the maxscript known as V-RayMtl Converter. This version is the next generation after version 2.5 and in comparison with the previous version new features and improvements appeared in this version: support for more materials, maps and other scene components, additional selection of materials for conversion, as well as more flexible options for converting and fixing the scene and its components."
More detailed information about the new features and capabilities of the converter can be found here: http://maxtools.3dzver.ru/vmcor here: http://www.scriptspot.com/3ds-max/scripts/v-raymtl-converter