I understand the basic concepts of this, that a UVW mapper takes a model and makes a "chart" for skinners to properly align their skins. However, I don't know much else except for a Max 5 tutorial. Basically, how do you do it, what software is required, etc.

The most describing term would be "unwrapping". You need max5 and that's all. UVW Map modifier applies new coordinates and UVW Unwrap edits them.

i use lithunwrap

some ppl consider it "n00b", but it gets the job done

milkshape works

http://forums.specialistsmod.net/viewtopic.php?t=5383