Update after the 2.80 version release:
2.8 is a giant leap forward that features a massive UI overhaul with lots of improvements for professionals and the new Eevee Realtime Rendering engine is pure gold.
Great new improvements on the horizon with USD integration and other fancy branches.
Blender excels once again in this massive new version.

Original Review:
Production quality 3D modelling package that is up to par with all the high-end, huge-cost packages.
Outstanding community and awesome development integration via the Blender foundation.

PROS:
No hooks attached.
Free to use for commercial work.
Constant improvements,
portable build (no installation required runs off a stick from zip)
small filesize
thousands of useful addons,
excellent UI, highly customizable for any pipeline,
extensive documentation and tutoring available online
yearly conference in Amsterdam
massive feature list including (but not limited to):
Modelling, Sculpting, Texture Painting, Node Editing, animation, rendering, compositing, patrticle systems, rigging, 3D printing, scripting, video sequencing, motion tracking, image stabilization, real-time modifiers, physics, smoke, fluid and cloth simulation, extensive import/ Export formats,
GPU+CPU Rendering, ready for distributed rendering
transparent development

CONS:
Can be daunting since the software is powerful it takes a while to learn the ropes.

Verdict:
A MASSIVE GEM.
Using it for years now for freelance work. Made a job out of it and never looked back.

Hats of to Ton Roosendaal and the whole community that makes it happen.
My favorite software package EVER.

Update after the 2.80 version release: 2.8 is a giant leap forward that features a massive UI overhaul with lots of improvements for professionals and the new Eevee Realtime Rendering engine is pure gold. Great new improvements on the horizon with USD integration and other fancy branches. Blender excels once again in this massive new version. Original Review: Production quality 3D modelling package that is up to par with all the high-end, huge-cost packages. Outstanding community and awesome development integration via the Blender foundation. PROS: No hooks attached. Free to use for commercial work. Constant improvements, portable build (no installation required runs off a stick from zip) small filesize thousands of useful addons, excellent UI, highly customizable for any pipeline, extensive documentation and tutoring available online yearly conference in Amsterdam massive feature list including (but not limited to): Modelling, Sculpting, Texture Painting, Node Editing, animation, rendering, compositing, patrticle systems, rigging, 3D printing, scripting, video sequencing, motion tracking, image stabilization, real-time modifiers, physics, smoke, fluid and cloth simulation, extensive import/ Export formats, GPU+CPU Rendering, ready for distributed rendering transparent development CONS: Can be daunting since the software is powerful it takes a while to learn the ropes. Verdict: A MASSIVE GEM. Using it for years now for freelance work. Made a job out of it and never looked back. Hats of to Ton Roosendaal and the whole community that makes it happen. My favorite software package EVER.