Gmax will not work for player models, well you can model them but there wont be any way to compile them to .glm from a gmax file format, add on top of that the fact that gmax doesnt have any skin modifier to rig the mesh to the bones.
video tutorials for making characters:
www.poopinmymouth.com
Another tutorial (not as great for low poly, but the head modeling is excellent):
http://www.3dtotal.com/ffa/tutorials...c/joanmenu.asp