Its very powerful and versatile but also underrated software. It can do pretty much anything most modern 3d software can if not more... well I wont go that far but Its no doubt in the top 5 on my list. Lots of people don't like it because Its designed to utilized a broad use of the keyboard to reduce on screen UI clutter, which I think makes it more convenient. It has sufficient effects engines, from emitters, to soft body, to fluid. Very easy to use animation and video sequencing UI. Also has a simple game engine which is good for recording physics for animations or games just games. Coupled with Yayfray it can do very elaborate photon refraction and reflection renders. Good texturing and materials editing and an easy to use UV mapper. It is always being updated by only the most elite nerds in order compete with other top names, and its a project of the "Google summer of code" so It gets new features and fixes all the time. There is a large online community and lots of tutorials if you need help. Its used by lots of European film and animation producers, there is even an Institute in Amsterdam dedicated to the Education of Blender. Best of all it is absolutely free.