Optimize screen performance for your processors. This one is from the Max readme file. It really does make a difference.

CPUs Machines with non-Intel processors:
The MAX Profiler utility uses Intel Pentium specific instructions so it does not load with processors of other types, such as Cyrix or AMD CPUs. This will cause a DLL initialization failure in acap.dll when loading MAX. This utility is installed only if MAXSDK is chosen as an option in the custom install. It is advised to remove the files "\3dsmax3\acap.dll" and "\3dsmax3\StdPlugs\MaxProf.dlu" on these systems.

Machines with Pentium III processors:
3DS MAX R3 should operate fine on machines with these processors. You can increase the interactive performance of your SZB driver by approximately 30% by installing the special drivers tuned for this processor. While these drivers have not been thoroughly tested and are not installed by default, you can safely copy these drivers from the Pentium3 folder of your 3DS MAX installation. Specifically:
1. Exit MAX
2. Copy the pentium3\heidi6.dll file from the CD to the MAX root directory
3. Copy the pentium3\drivers\szb6.hdi file from the CD to the \drivers subdirectory of the MAX root directory.
This change will have no effect on D3D or OpenGL driver performance. Please check with your graphics card manufacturer for the possibility of recent driver updates that may also take advantage of Pentium III 3D instructions in either OpenGL or Direct3D mode

'Reflect/Refract' maps are slow.
Slow and memory intensive. Use a 'Raytrace' map instead. Just be careful. Raytracing may cause a new crisis situation. For even more power check out Blur's Beta Site. There you can get a new RayFX engine (among other things) which will let you access some new settings to speed up your reflections.

Save.
"Save and Save often." Redoing stuff you've already done wastes more time than anything else. Most importantly if you are still using Max R3 save even more. Max R3 is buggy. Get your hands on a copy of R3.1 - most bugs seem to be taken care of. In the meantime be careful working with materials....

That should get you up and running. Be cool - stay in school.