At the geometry level, 3DS represents triangle meshes, objects, cameras and lights under older limits. FBX represents meshes, hierarchy, rigs, animation, cameras and lights. A flattened surface can be dependable when the receiver only needs final triangles, but it is a destructive handoff when someone still needs editable solids, object hierarchy, animation, vertex attributes or manufacturing metadata. Once those semantics are discarded, converting the file back does not reconstruct the original design intent.
A safer production workflow keeps the richest editable source as the master and creates a separate delivery copy for a named destination. After export, inspect units, bounding-box dimensions, up axis, normals, watertightness, object count and material references in the receiving application. The main 3DS caution is that it old object and vertex limits make it unsuitable for modern complex assets. The main FBX caution is that it the format is complex, proprietary and prone to importer-specific differences. These are workflow constraints, not minor technical trivia.
The practical verdict is to choose 3DS when the job centers on opening archived 3D Studio assets and simple legacy libraries, and choose FBX when it centers on animation and game-production exchange across established desktop tools. For 3D printing, the slicer's actual import is the final authority. Confirm millimeter dimensions, orientation and mesh integrity before generating toolpaths, even when the preview initially looks correct.