Here are some tools that could be used for this:
* wings3d
* blender
* moonlight3d
* K-3D
all those tools are free, at least wings3d and blender can run on all major OSes.
I use wings3d which is quite intuitive and easy to use, it supports several 3D formats and can do UV mapping.
Currently 3DMEditor isn't capable of editing geometry but it can do texturing and shading, if you have any suggestion on improving 3DMEditor feel free to post your ideas
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