Texture baking - no
Spec Maps - yes, depends of used shader
Normal Maps - yes, depends of used shader

Rendering, and with that the shaders, depends of course of used render engine.
Modeler: Lightworks, Virtualight, Dribble. Dribble is a Renderman renderer.
Workspace: Vray (not longer available), Realtime, Kerkythea, Indigo, Yafaray4trueSpace

Make Normal Maps from High Poly to Low Poly mesh - yes, with a plugin ...

Animation - well, depends what you mean with reliable. bones are more stable now than in 7.6 when you mean this. 7.6 was IK1. 7.61 comes with IK2. It has finally arrived with the latest Beta. But there is surely still more than one quirk left. Teething problems. Not enough time to test it all, let alone fix it because of stopped development. I have on the other hand even with 7.6 made a decent walkcycle, and have exported it then to MED. I would label it as working.
Sure there is FK and IK.
Physics yes
Soft Bodies no
No particles so far
Fluids - there is a Fluid Sim Importer by a plugin developer that imports Blender Fluid Simulation
UV Tools still lacks of an useful unwrapping algorythm, UV tools are useful to cleanup the unwrap besides that. Numerical control ...
Not sure what you mean with Morph Maps. Morphing? Morphing is part of Animation, and possible.

For creating lightmaps i use Giles, for baking the textures together i use The Gimp. Both freeware. Unwrapping i do with Roadkill, also freeware, and Ultimate Unwrap. A few bucks.