Google\'s Sketchup is a nice, simple 3D-object modeler. Moreover Google has an enormous warehouse of 3D objects so that you actually don\'t have to do much modeling yourself if
Here is code that successfully imported a very simple .dae file produced by the free version of SketchUp 8.0 into Mathematica 8. This code is not detecting or acting on transformations, it only looks at coordinates and triangles, so don't expect too much.
data = Import[SystemDialogInput["FileOpen"], "XML"];
points = Map[( Partition[ReadList[StringToStream[#[[1]] ], Number],
3]) &, (Map[Part[#, 3] &, (Partition[
Cases[data, XMLElement["float_array", _, _], Infinity],
2][[All, 1]])] ) ];
triangles = Map[Partition[1 + ReadList[StringToStream[#[[1]]], Number],3] &,
Map[Part[#, 3, 2, 3]&,
Cases[data, XMLElement["triangles", _, _], Infinity]]];
Graphics3D[Map[GraphicsComplex[#[[1]], Polygon[#[[2]]]] &,
Transpose[{points, triangles}]], Boxed -> False]