An animator who pitched in on HappyGiant's upcoming Sam & Max game shared the following:
My opinion is that all attempts to date to model Max in 3D (the Freelance Police version, the Telltale version, and the one above) have done a commendable job of faithfully capturing the fuzzy maniac, and it's fun to compare the nuances. The in-engine footage of This Time It's Virtual shared so far has subjected the characters to a certain "compressed for Nintendo DS" look to my eyes, so hopefully the shipped version can have Max looking a little more like he does in the animation tool.
Mixnmojo: We pretty much just embed Tweets now.
Source: Twitter