today I've started to play with the ms3d file format and I've found that the loader doesn't consider the relative path so looking at the .x loader I've coded a little patch that you can download here -> http:\\batsardo.netsons.org/files/MS3D_loader_patch.rar
I hope its usefull for someone
It also strips the .\ characters the milkshape eventually put at the start of the texture filename