This post, https://forums.galciv2.com/355497
and this Importing ship modelsb and with Stardock's included example ship .X file was enough to figure it out; thanks!
There's a few settings in the Panda Exporter that need a tweaking:
1st tab (3DS max objects)->Output Options: Check mesh definition, check materials, UNcheck inline. This makes the materials definitions near the top of the .x file, so it's easy to make sure it's got the right png filename.
3rd tab (texture & fx files)->Texture Conversion: Click option Convert texture map, UNcheck use full path, format as PNG, and I pick aways overwrite without asking. One less popup in the universe is a good thing. Sometimes.
Where were we? Oh yea, X File Settings tab, DX filetype. Pick text for now so you can browse it for bug hunting and the like. Coordinate System: Check left-hand axis. Your thumb is X, your pointing finger is Y and your butt scratching middle finger is zzzzz. Anyway, if you set it then then 4/6 of the direction viewports are correct. The only oddity is the window 'Front' has you staring forward from the back, like a passenger. And of course 'Back' produces the mirror universe where Commander archer joins forces with a harem of Orions to rule the universe.
They have an 'About' tab, but just between you and me? It doesn't work. And I've asked a bunch of times. "What's it all about?"
Taaaaa 
