modo is a great solution for modeling and texturing. The rendering is faster than mentalray and you can achieve some really good effect without ant effort. Of course as everyone already said it's not a complete package like maya or lightwave but if you compare to zbrush, I would go to modo if I'm doing game modeling. I own both but I modo is more usefull than zbrush in most of my task. You don't need to switch to photoshop to create your texture, your normal map or the displacement. You can bake directly onto the texture, create different layers et more.

just check the alley tutorial to see what modo is capable of