The gurus have spoken...all excellent replies IMHO. But to narrow it down, if the model loads and flies in FF as single player, then CTD's on exit, its gonna be a panel gauge problem in VC. If it CTD's in QC with wingmen flying the same model, its the lightstates. As for possibly having an oversized mdl, if that's the case, it won't even load when selected from the aircraft selection window -- the sim will hang or CTD the moment you select the model. And finally, as B24 said, if it CTD's when it crashes or collides with other planes, its still got its original FS crash check flag in the mdl file.
Going back to the gauge probability, the best way to test is to replace the entire panel outfit with a blank panel config from one of the old freeware Alphasim products. Their early CFS2 freeware releases all came with a blank panel setup that had no graphical 2D panel and no gauges in the VC or 3D panel. By replacing the current FS9 panel outfit with this and flying about 10 sessions or so, you'll know for certain.