This question has been asked a lot and there is now ideal modelling program that is ideal for everyone.
So the ideal modelling program is the one that is the most productive for
You and you alone, i.e. the one you yourself feels happy with and least daunting experience.
Free ones: Blender is the best of the bunch for overall power, then Wings3D for ease of use and smallest learning curve.
(Yes Sketchup is free also, but I really don't rate it for making FPSC ready models myself)
Cheap ones: Milkshape is cheap and easy to use, then Fragmotion is a little more expensive, but has better animation and UV mapping, plus a few handy extras over Milkshape (in my opinion).
My advice though is try them all, or at least as many as you can until your happy with one. Most have demo's and of course some are totally free, so just poke and hope with a few programs then chose.
30-40 replies of MyFave modelling app is best (because I use it so there :p ) are not going to help you in any way
Bond1 - "I see this and think of a beach"