you can't really compare Lightwave with Milkshape or 3DCanvas (isn't it named Amapi now?)
you could compare Lightwave with trueSpace, 3D Studio Max, Maya, Softimage, etc...
depending on what you want to accomplish depends on what you will want to buy, also which package your prefer would be a good bet.
Personally i'd recommend Milkshape - however i'm extremely bias for some obvious reasons
Tsu'va Oni Ni Jyuuko Fiori Sei Tau!
One block follows the suit ... the whole suit of blocks is the path ... what have you found?