After much research comparing other 3D apps (3DS Max, Cinema 4D, Maya, and Softimage), I found LightWave to be the most complete 3D package out of the box. While you can achieve the same results with other applications, it may not be as easy or as affordable as LightWave since many features in other 3D apps may require you to pay for extra "add-ons." And one of the best features from LightWave that I like is its native renderer that produces really beautiful results.
I am a beginner in 3D, and I tried Maya PLE, SoftImage the evaluation edition, and finally got a chance to try LightWave. From my experience, I found LightWave to be the easiest to get around, especially in the area of modeling, where it could be intimidating for a newbie like me.
This competitive upgrade makes it even easier for everyone to enter into 3D, so it's a good thing that NewTek is very sensitive to the pricing and always keeping it low without sacrificing quality.
One thing that I don't have much experience is the support. I only contacted them through email once, but they didn't respond back. But the service is excellent considering their minor updates (up to 8.2) are always free and the "coming soon" 64-bit version will be free as well.