Actually for a while they had non-comercial licenses for 3DMax for nothing, in Australia. But it was a very strick license, it basically meant that Kinectix had the commercial right to anything you designed on 3DMax.
So really it was just for students/people/who ever to muck about with & learn to use it, on their home computers.
I've still got that CD lying arround, I got it at a trade thingo. It was not date restricted, nore did the installation countdown & stop working after 30 days or something. There were no non-working features in it either, as in it was definitly the full featured version, though it may have been one revision behind the then current commercial realise.
BTW, a mate of mine has a student version of some CAD program, & every time you printed something up with it, it would print a little thing saying 'created with the student varient of autocad so this drawing cannot be used for commercial purposes' (or something like that) on the corner of the picture. Even if you saved the file & printed it using another program, he reckoned the tag would still be there, yet it never appears on the computer screen. Its like its embedded in the file format or something.