For the Windows world, if you are looking for a good software package for the creation of 3D text and some shaping, I've had great results with Ulead Cool 3D for several years. You can pick up version 3.5 for about $45, and version 3.0 on ebay for under $20. I've used 3.0 on Windows 2000, but I'm not sure about whether it'd work on Windows XP, if that is what you use. There are free addons available at
Ulead's website, as well as commercial plugins.
Photoshop does have a steep learning curve, and unless you want to steal it the price can be very prohibitive. Even two revisions back can cost you upwards of $100 or more. Paint Shop Pro is a good alternative with not nearly the learning curve. If you would like to try a completely free Photoshop clone that is a very capable product, try
The Gimp. It does have a bit of a learning curve, but it's very effective, there are a lot of online resources for Howtos, and a free, guiltless product. I use it regularly with good results, and I'm no artist.