A good model editor

What is in your guys opinion the best model editor. Whether its the most user-friendly, able to do the most, easy to understand (if not exactly the most user-friendly). I want to know what model editor you think is the best.
Don't ask me to do a poll because I don't know of any model editors anyway.
I'm asking this because I want to start modeling and skinning but I want an amazing editor first.

3D Studio Max 5. Unfortunately, it is no longer available for public download... you'll have to "find" a copy of it floating around on the internet somewhere.

Gmax It's based on 3ds max 5 so it's escentially the say, except it can't make particle emmiters and it's a pain in the arse to export *cough*