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As stated on their website:
Blender is the open source software for 3D modeling, animation, rendering, post-production, interactive creation and playback. Available for all major operating systems under the GNU Public License.
After browsing around and researching on this software, I must say it is very promising. Its a fraction of the size compared to 3dmax, maya, cinema4d and other similar applications. Plus its opensource and FREE!
Give it a try and do let us know what you think of it...
About Blender: http://www.blender3d.org/cms/About%20Blender.20.0.html
Download Blender: http://www.blender3d.org/cms/Blender.31.0.html
I tried it out once, I couldn't quite get the hang of it. Although that could be because I'm hopeless with anything 3D.
I've had a small play around with it, its very impressive. I havent yet gotten used to it - the interface is different to 3dmax which is what im used to.
The developers are bringing out lots of new features which is looking promising for the future of this product.