the warcraft model editor is acutly a pretty good tool to edit models with people just don't know how to use it. why you can't make models out of scratch you can add and adjust models for your maps with ease and it also makes a fine refiment tool for gmax.
You did those dinosaur and starwars models only with vertex modifier? And how did you the animations?
Btw, I don't like vertex modifier. Once I opened a model with it, but it wasn't similar to anything.
Yes I ONLY use vertex modifier for modeling, I can't animate, so I use base models. Though all my more recent models I finalized with Magos' model editor. (particles, portraits, fixing bones/anims etc.)