Animator not working with Legacy animations

I have a character (rigged and animated in 3DS Max). I am trying to use the new mecanim system. I set my rig to Generic, but I get the warning that the animation has to be marked as Legacy. If I set it to Legacy, I lose the Avatar and cannot use the Animator component. Can some please explain what is happening.

Thanks in advance!

The same issue here, with all 3DS MAX rigged characters, which tooks me probably half year to create.

Touch your animations and hit CTRL+D and it will duplicate them off the model. You can go in to debug mode. To change the animation from mecanim to legacy you change the animation type to 1 instead of 3.