I'm now somewhat involved in a shareware game project, primarily from a business/finance angle (i'm a corporate weenie), but also doing some low level texture creation, modelling of simple objects and project mgmt. (have a design degree prior to MBA sellout). Anyway, we're a small group with very limited resources and are mostly working in linux/OS X so the process of moving from a basic C++ prototype to a manageable environment has been really interesting. Some tools people here may find interesting (or already be aware of...):
Unity - an amazing tool. Currently OS X only (win32 coming soon) Unity is similar to Torque 3D in scope, it's essentially a 3D engine. However it's real appeal is the easy learning curve, comprehensive features (Ageia physX™ included, massive shader pipeline, AI language and engine, custom C/C++ plug-in support and tons more) all wrapped up in a extremely well thought out interface and workflow. Describing it as simply a licensable engine is really a disservice, it's essentially a game IDE. It compiles binaries for OS X, *NIX, Active X, Win 32 and Xbox 360. Price is $249 for the Indie version, $1449 for the Pro version - Pro supports Win 32/360 binary compiling and custom C/C++ plugins. Has a 30 day free trial. One drawback is the license does not include source access to the actual engine itself, and it's commercial not OSS.
Blender - I did a course about 6 years ago in 3D (early Maya, Lightwave) and have dabbled since then. I am by no means an expert. But we are using Blender for modeling and animation and I'm blown away by it. It's fast, intuitive, feature full and stable. It lacks some very high-end features but supports nurbs, meshes, IK and many other mainstream features. All platforms, free, excellent documentation and frequently patched. Fabulous software.
Inkscape - Although I have a license for Adobe CS2, the rest of the team doesn't so rather than pirate we are using Inkscape for vector art creation. It's a little choppy compared to Illustrator but I've come to love it dearly - fast, native SVG support, good pen tool and tablet support. Also completely Open Source.
Most of the core C/C++ dev work is being done in Linux and then compiled for Unity, but one chap on the team is teaching me basic Objective-C (i have a smattering of C experience) - we're both on Mac's using Xcode. I'll never be a good coder, but Xcode is such a pleasant environment I find myself cobbling together small Cocoa apps in my spare time just for kicks.
Anyway, not a anti-Windows/PC rant at all - just a small "looky here" to anyone interested in dev tools that are free/cheap and really damn good.
NOTE: My experience with Torque is extremely limited - I've heard great things about it on the Windows platform, but our tests under OSX/Linux were lacking, particularly in tool sets to actually get the engine to do anything interesting. I understand that's changing though, and for $100 it's a heckuva deal.
Sample screenie of Unity environment