We use Max here and Rhino for some types of objects.

While Lightwave has a reputation for a good rendering engine there really isn't all that much t hat is unique about it, and when you look around at the technology of rendering you find that all the really cool stuff right now is happening with Max as a base.

finalRender, Brazil and some other rendering systems that plug in to Max and are really pushing the envelope for speed and quality. The tool is ridiculously flexible thanks to the plug in system and does great work.

Anyway, either Max or Lightwave are your best first bets. Truespace is a great tool but to far off the mainstream in my book for serious investment of time, Bryce is cute but the rendering engine is SLOW and the modeling isn't all that. The others (Raydream and so on) fall somewhere in the middle.

So for > 1200, go Max.

For about $1000 then Lightwave.

< $800 then go Truespace

Enjoy :)