Hi O & B24,
Frustrating isn't it?...grrr!!!
I have found that mdl's bigger than about 5Mb, that create huge sca files (25Mb+), like this one, just will not re-compile. The errors in line etc etc, is usually due to modding the sca file and it does not 'like' the edits or it is the wrong place/order. As you say the 201/203 runtime error is a memory issue, and as you've modded the ini file to allow more time there's not much more you can do.
I have also found that messing with already-converted-to-CFS2 mdls, causes more problems and often does not work.
Now, I like challenge!, so I looked at Gnoopey's B29 pack and if you're not aware he did a AI lite version. Well I don't know what makes up the huge 5.92Mb in SC's and Ghost's conversion , but converting this Fs9 AI lite version, everything works (except the rudder and wheels, also no shadow and is missing a rear RH uc door, which also do not work or are missing in SC's version as well), the full VC's there, and it is only 3.77Mb! (Both versions are multi-res so there's no hit in having the smaller mdl ac)
And guess what, this will convert to sca and re-compile, BUT using MDLC 117, it will not re-compile with 190/140/142/75 . So with this you may be able to get the shadow working, and re-compile with manual MDLC.
The other option is the ol' chestnut of changing the ISFT header by hex editing to using an easily converted Fs9 ac such as the Fs9 DC3 or Bell 206, then converting it. At the same time you may be able to hex the shadow in, then convert. As this is a GMAX ac then this will probably work(?!)
Anyway, hope this helps!
Cheers Shessi