Sure, this is the way in steps.
1. Create the part in SW (version I am using is SW2010)
2. Go to 'Save As' and choose 'ACIS(*.sat)' as the 'Save as type', note the change of the dialog box
3. Locate and press the button titled 'Options...' at the left bottom corner of the of the 'Save As' dialog box, a new dialog box called 'Export options' will appear
4. Make sure you have selected 'ACSI' file format, and output as 'solid/surface geometry'.
Here is the trick...
5. Under 'Version' select '1.6', the most primitive one and press 'OK'
6. Now 'Save' file
7. Run ACAD (version I am using 200
8. Go to 'File' and then 'Import', in the 'Import file' dialog box select 'ACIS(*.sat)' as the 'Files of type'.
9. Select the saved '.sat' file and 'Open'
10. Save the ACAD file with '.dwg' extension
It seems that ACAD doesn't support newer version of the *.sat format, therefore most people find it puzzling why it's not working as it should. Bit of logical thinking, that's all...this is just my experience.
Enjoy!