if you mean RENDERING software only...
BMRT
Final Render
PRMAN
Entropy
JiG
Mental Ray
Brazil
Vray
And these are only what i can think of off the top of my head. Yes, lightwave does have a good integrated renderer but it is in no way competitive with more standalone rendering apps.
You can do some decent stuff in Mayas' renderer....you just have to wait a long time for it, lol.
MAXs renderer can have some good effects squeezed out of it and its one of the most efficient low-end renderers around...but it is showing its age.
And at the end of the day..unless you know how to use any of them they will still look crap. My advice is to start with something easy to learn and logically laid out. Dont jump into the deep end with mentalray or PRman or maya/XSI and stuff because there is SO MUCH to learn.
Start simple and build on that.
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[This message has been edited by wEvil (edited 01-09-2002).]