The version number is critical. Build 3.4.07 was released during a transitional period for Delcam. It represents a "Gold Master" build that offered:

For users who have not upgraded to the subscription-based Autodesk Manufacturing Data Exchange Utility, Ps Exchange 3.4.07 remains the last "perpetual license" style translator for many legacy toolchains.

You may still find the original PS Exchange User Guide (PDF) on archive.org or manualslib.com. Search for:

"Delcam PS Exchange 3.4 user manual"

It contains command-line switches like:

ps_exchange.exe input.stp output.dgk -t STEP -f 1

Should you stick with 3.4.07 or upgrade to Autodesk Data Exchange? Here is a quick comparison.

| Feature | Delcam Ps Exchange 3.4.07 | Autodesk Data Exchange (2024) | | :--- | :--- | :--- | | License Model | Perpetual (Own it forever) | Subscription (Annual fee) | | SolidWorks Support | Up to 2009 | Current SW 2024 | | File Size Limit | ~2GB (32-bit limit) | Unlimited (64-bit) | | 3D PDF Export | No | Yes | | Stability on XP/Win7 | Excellent | Not supported | | Geometry Healing | Good (Manual control) | Excellent (AI-assisted) |

Verdict: If you are machining legacy 2D and 2.5D parts on Windows 7 machines, Ps Exchange 3.4.07 is ideal. If you need to handle massive assembly files or use cloud collaboration, you must upgrade.