>>I'm also working on a keyframe solution with actual modeled links, but that's
much more difficult <g>!
I did this one a few years ago (using AutoCAD and AutoFlix no less) but the
method should work for 3DS.
I modeled the full chain in 4 positions. Each position advanced the chain – 1/5
distance between two links. I then swapped out the chain on each frame, in
this case you would use animated hide with repeat. The end animation looks
just like the chain is moving. (of course I rotated the gears as well) – Hope
this gives you an idea how to do it.
J-me