The reason people are confused is because you say you are making 3D models with PSP. Torque isn't turning your picture into a 3D model. It has built-in primitives, just like DB Pro, which can be textured with a variety of bitmaps.
So, if this is what we're talking about, you can do the following...
LOAD IMAGE "MyImage.jpg", 1
which loads your file exported from PSP. Next take your pick from the following...
MAKE OBJECT PLAIN 1, 10,10
MAKE OBJECT CUBE 1, 3
MAKE OBJECT BOX 1, 8, 6, 9
MAKE OBJECT SPHERE 1, 10...and so the list goes on.
Finally...
Texture object 1,1
and so it's visible, move the camera, and create a loop, here's the complete code...
LOAD IMAGE "MyImage.jpg", 1
MAKE OBJECT SPHERE 1, 10
Texture object 1,1
POSITION CAMERA 0,0,-10
DO
SYNC
LOOP
That's as simple as I can make it for a jump-start into DB Pro...welcome!