The SMD Export Options window is displayed when you save a model in Studiomdl Data (SMD) format. It allows you to specify things like whether or not to save the meshes in the file and which animation to save.
Typically there is a SMD model that contains meshes and the bind pose skeleton and separate SMD models for each animation without meshes.
The Model Type options specify whether to save Reference (meshes with skeleton bind pose) or a skeleton Animation.
The Save Points as Bone Joints checkbox allows you to indicate if you want the points to be saved as skeleton bone joints or not at all. Points can only have one bone joint influence.
The Vertex Format options specify which SMD vertex format you want to save as. If no vertices in your model are assigned to more than one bone joint, select GoldSrc. Otherwise, select Source. This only affects Mesh SMD files.
The animation list box allows you to specify which animation you want to be saved in the file. This only affects Animation SMD files.
Click Ok to save the model with the specified options or click Cancel to ignore any changes.