Hey all you fellow Rhino fans! I just discovered something great if you want ot model with Rhino and have it converted to FS2.
Make use of layers in Rhino the same way that you would use subobjects in trueSpace. For example, have no more than ~750 polys in any given layer, etc. Then save a copy of the model as DXF using Rhino, not 3D Exploration. Use the default settings for the DXF exportation.
Then in TS, load up the DXF. All the Rhino layers should be translated as TS subobjects. Then just glue the lights, texture and convert! Yipee!

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Sandvich Bar, the CapShip Turret Upgrade, the Complete FS2 Ship List and the System Backgrounds List (all available from the site)