Quote - This was discussed on another forum, but not put into practice as far as I know. It was supposed that you might be able to apply transparency and displacement maps to a long thin strip of "cloth", and simulate that; but it wouldn't be good for big links since they'd be visibly deformed. Might be usable for fine, jewellery type chains though. The Poser Physics add-on might be able to do this.

Hmm.. it occurs to me that taking your chain object and laying it right on top a cloth plane would be the way to go here.  Export the result to an obj file with the figure names checked and then reimport to a blank scene.

In the cloth room, specify the cloth plane as regular old dynamic cloth, put the chain portion into the soft decorated group and then drape.

Might take some adjusting to get the parameters right, but that would probably do the trick.

-Never fear, RenderDog is near!  Oh wait, is that a chew toy?  Yup. ok, nevermind.. go back to fearing...