Hi fellas, it is possible to get 3ds Max 5 running on Windows 7, 8.1 or 10 without the need for any VM's. See attached.
I recently wanted to accomplish this as now my boy is a little older I can squeeze in a few hours now and again to start modelling again.
It needs a little fiddle, and a modified Licence file, but it works 100% and is great. Don't think I can explain the process here or share any files (is it legal??)
Either way, if you want to know the process I am happy to share.