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Can someone explain me the difference between AIs, excluding DraftBot.

In the interface we have to choose between mad and monte carlo. While in project we have .AI, .AI.MA, .AIMCTS and .AIMinimax.
As I deduce .AI is the base, .AI.MA corresponds to mad, and .AIMCTS corresponds to monte carlo. Am I wrong about something?

What were different AIs built for?
Should I use one over the other?
What does .AIMinimax do?

It's a test/experiment versions of AI (code or algorithms testing from old days). Main xmage AI is ComputerPlayer (Mad) and it uses the best code from all other AI versions.