I'm having a look at fstorm right now to determine the best approach for conversions... however I'm not really sure how useful all of this is. My personal "goal" of the converter is that each render engine conversion should yield a usable result - a one click solution with as few necessary adjustments from the user as possible.
What I see so far is that fstorm materials are rather "spartan", which is fine, because that means it's easy to translate. The maps, however, are pretty much all custom and either different or complete remakes of the max ones (like noise, output, falloff, gradient etc) with different settings which makes it basically impossible to get proper conversion results.
So, if there are any Fstorm users here I would be happy to hear opinions about that and what you think would be a useful conversion for you.