Here's some stuff I've noticed about it..
"-skinsize [width] [height]" seems buggy. My md2 exporter exports the model with skin size 256*256, so I thought I need to change it to have similar dimensions as my model's skins (2048*1024 and 1024*512). So I set it to 256*128. Ingame the texture was displayed very bad. Letting the skin size stay at 256*256 shows the texture allright ingame. So that was a bit weird. I expected things to be the otherway.
Using "-skin [num] [filename]" multiple times in the same execution of the program only used the first one. The rest of them were skipped.
My md2 exporter exports every frame with this kind of name:"FRAME 000......". I've noticed "-create [framelistfile]" does an empty model with frames and names based on a text file. What about changing the frame names of a model that already exists?