Firstly, I believe it's against the rules of this site to instigate people to piracy. Secondly 3ds max 5 didn't cost that much since years and thirdly, there are things like Student License discounts wich offer a considerable price drop.
@weuser, it is possible to do almost anything with just free tools. Modeling, animating, adding particles, attachment points, sounds and footprints, the downside is that sometimes you need 4 programs and 30 minutes to do something that 3ds max could handle in 10 minutes.
Then again, even if you were an exceptional learner, it would take you months to learn how to model and animate. Most of this community simply settled with modifying Blizzard models rather than creating something original from scratch.
My advice is to start using Oinkerwinkle tools, and do some model edit. Then when you'll be more experienced, if you ever feel they're too limited for you, get 3ds Max or Milkshape.