I just noticed that in the Max5 search paths (in file preferences) it is not possible to use aliases as subfolders, even for Macs...
I will miss this feature a lot. I use it all the time in max 4.6.3 to switch between several sets of externals and soundfiles (every set is a folder containing different alias-subfolders).
It is expecially useful for big sound folders, and it would be super-useful to have two distinct sets of external folders for max4 and max5 without having to duplicate everything.
I know that now we can set many different paths in the max5 file preferences window, but the single folder set technique is a lot better, imho