I posted about the latest release of the free NURBS modeler MoI a couple of weeks ago. Now, I post about a free subdivision aka subD modeler, Wings 3D. Wings has been around for a while and there are a number of resources on the web. The program itself is fairly powerful, you can model, create UV maps and apply materials, do 3D text, etc. Also, Wings will export in obj, 3ds, wrl, etc and import obj, 3ds, ai among others.