I didnt like Truespace, I would either go with Milkshape 3d, or if you can buy a copy of 3D Studio Max (which I dont think you can at this time,) get that.
Milkshape 3d is very easy to use, once you know all of the functions & commands, but it can be tedious to try & use at first.
Just buy DBPro for $99 + S&H, & Milkshape 3D (MS3D) for $20 (email shipping for free), & use those two things.
If you want to go the extra mile without having to use MSPaint for the textures & having better abilities for colors & tools, go out & buy Paint Shop Pro. I think I got my copy for $70, but just be glad its not as expensive as Photoshop (which is a few hundred USD ($695+.)
Game production is a very expensive investment, but its worth it when you get a commercial grade quality game out.
I hope this can help you out a bit, I will link now to Milkshape 3D...
http://www.milkshape3d.com
Happy hunting,