The release of Blender 2.43 resemble seven months of development time from the Open Source community which bring significant improvements over previous version of Blender. The detailed new feature available on Blender can be seen on this Release Notes while more features in 2.43 can be seen in More 2.43 feature page. You can see the features of Blender here. I think this version is ready for daily production use by many modeler around the world to create sophisticated design and visualized model.
Blender is the free open source 3D content creation suite, available for all major operating systems under the GNU General Public License. It supports Windows, Mac OS X, Linux, FreeBSD, SGI Irix, and Sun Solaris.
Here's one example of the product made by Blender: