Personally, I seperate up the model into regions (of faces) (obv. not literally break it up, just assign the faces). then I apply a UV map (planar) to each face, and use the UVUnwrap tool to move it outside the material square - so it doesn;t overlap with the next reiogn...i keep on doing this until every face is mapped, and then I select the whole model, and use the UVUnwrap tool to manipulate it all so the faces are nicely grouped.
I then convert to obj (no texture exporter for max, y' see), and use UVWrapper to save the template of the ships UV.
normally I make symmetrical models - so I can half them and simply mirror the texture (cut in half, uvmap, mirror and rejoin). Like for the :V: models in FS2.
If you look for an old post I made (quitea few months ago) on the main HLp forum ,someone posted a load of neat links... actually, i though it was you (?)
As for drawing the maps, it's hard to really give a good method... I tend to seperate it into coloured sections, overlay hull lines, then shade them 'in' to get the base hull. then I just add all sorts of crap on top of it.
i.e; (in order, downsized from 1024x1024) - last pic is unfinished, but this shows the buildup of details


