I may have solved this... Here is where I've landed after much turmoil and determination...
Special Hardware:
USB/Serial Adapter: TRENDnet USB 2.0 to RS-232 DB9 Serial Converter, TU-S9
http://www.amazon.com/gp/product/B0007T27H8/ref=oh_details_o00_s00_i01?ie=UTF8&psc=1NULL Modem Cable: SF Cable, 10ft DB9 Female to DB25 Female Null Modem Cable
Pin Out: 1-4+5, 2-2, 3-3, 4-6, 5-7, 6-20, 7+8-8, 9-22, G-G
http://www.amazon.com/gp/product/B006W0I58Q/ref=oh_details_o01_s00_i00?ie=UTF8&psc=1 PC Side:
Windows 7 Ultimate; TU-S9 is plugged directly into a USB port ON THE MOTHERBOARD - this is important because when plugged into a USB hub (Belkin thumb hub, powered or not), I would continually receive COM errors no matter what the settings were.
The COM port used by the TU-S9 is setup as follows under Device Manager - 15200 BPS, 8-N-1, Hardware Flow control; Use FIFO buffers is enabled and both Transmit and Receive buffers are at the max.
Amiga Explorer is set to the same COM as the TU-S9 with a Speed of 38400. Anything higher would result in COM errors.
Amiga Side:
Serial Prefs - 19200 Baud, 8-N-1, RTS/CTS, 65,536 Input Buffer Size
AExplorer: All defaults except SERBAUD tooltype is set to 38400
I've successfully been able to browse the Amiga drives w/o a COM error now (at least none popping up and stopping me) including opening some files from the Amiga (lha mostly)... MUI being one of them which took approximately 12 minutes to copy to eh PC before it opened. Not stellar by any means however is lends credence to my setting finally being stable.
I did intentionally try to browse a folder on the Amiga from the PC - multiple times - while the MUI archive was being opened and was greeted with the popup "There has been a conflict accessing the Amiga Explorer resources" however this makes perfect sense and it did *NOT* seem to cause any problem with the MUI archive opening. I even used lha on the Amiga side to view the MUI archive while it was copying and still no issue.
Hope it stays this way - fingers crossed!
Note - I *DO* have both DD and HD floppies in this A3K so of course can use those as a method to copy files... this Amiga Explorer battle was more of an exercise for me to ensure this aging A3K is still viable.