It may not be as powerful as Blender but it's definitely more productive.
I've tried a lot of free tools recently, including Wings. All of them suffer the same as Blender - very unfriendly, bad key combinations, pathetic mouse and viewport controls (ok so blender has emulation mode but still).
Update: There is not alternative to Blender. Check out Sculptris though.
However, it doesn't export as FBX (you have 3ds and obj) and the tools don't seem to be as advanced as Blender (at least so far)
Anything that can get me going in under 3 mins to do a simple model for the 1st time is fucking awesome.