Free the models is a site that offers free 3d models in 3ds, bryce, poser, lightwave and md2 format. Also a great collection of textures to use in your favorite modelling and rendering program.
All the content is free for any use.
In the future more 3d formats will be added and some other sections such as wallpapers, 3d screensavers, 3d coding source code and tutorials.