Evermotion takes a look at HDRlabs sIBL and using sIBL Edit to create, manage and use Image Based Lighting in 3DS Max and rendering with v-Ray. sIBL is a great and free little tool for creating IBL lighting models and real-world lights in scenes that works with most 3D applications including 3DS Max, Maya, Cinema 4D, and Lightwave as a stand alone multi-platform application that communicates with each 3D application that you are using (however sIBL-Edit is only for Lunix and Windows systems). Check out sIBL at HDRLabs.

Smart Image Based Lighting method from evermotion on Vimeo.

Video tutorial covering the sIBL (smart Image Based Lighting method). HDRI using methods are related to 3ds max and Vray.