Source SDK & Base Updated 11/7 11:00AM PST
the error model had no obvious center, and wasn't pointed in the direction the entity was pointed.
they're replacement at least has an obvious center, and an indicator of direction. thats all it needs 
Is it just me, or has the 3D Ray-Traced Lighting option dissapeared?
I know it didn't work before, but now it's not even there.
Which is why it was removed.
I think this is the second time it appeared and then disappeared, though last time it didnt' do anything at all. Atleast this time it crashed Hammer for some, and worked for others. There are pics of it working floating around.
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Um, where is the sample map? I can't seem to find it?
"SteamApps<username>sourcesdk_contentportalmapsrc"
If it doesn't exist for you, select "refresh sdk content" in the SDK menu.
Sorry for the bump but did anyone else notice that you can now buildcubemaps in Portal?
I found out maybe 4 days ago but forgot to announce it here.
Finally, I wasn't game to try it yet :p
I did notice that the shaded textured view in hammer doesn't shade for me anymore, which is really annoying 
Yup, Its cool, untill you can't be bothered to build them again every time you change something then you get the pink and black checkerboard
Put your env_cubemaps in their own visgroup and leave it turned off when not testing your cubemaps.