I guess the search goes on for the "complete" 3d modeling app.
Yes. I was also searching for that and I think I found it.
My best bet is Modo, that is why I bought it recently. It is a good modern modeler, has the best uv-toolset, 3d-painting, sculpting, rendering and keyframe-animation. It misses only bones and character animation tools. But I am sure this will come soon.
Modo can be the best complete and affordable 3d solution next year.
In my case (I am a Lightwave user) this is already true, because Modo integrates perfectly into Lightwave (reads and writes LWO files directly and behaves very similar). So I even have all missing features there and both feel quite similar just like one application.
Blender indeed is a good candidate to become a full complete 3d application as well. But it needs some polishing in different areas (stability, im- and export, UI, 3d-painting).
Though it is free. But in my case I rather spend money for a stable and robust tool like LW instead of working in an unfinished app. But if you are doing it for a hobby, then you can be perfectly fine with Blender.
We will see what future brings. Some exciting things will happen in 2009 (at least I know this for sure in terms of Lightwave and Modo but the competition does not sleep).
And I will also watch Carrara. It has interesting tools like a terrain editor. But this is not a new feature for me since I already own a license of Vue. It can create and render terrains with lots of procedural materials, plants and can generate skies. Lightwave also has a tool to render skies. But Vue is prefect if you want to make a new landscape in just a few seconds.