Kicad has that ability integrated with its PCB layout application. There aren't 3D models for every component but it's easy enough to build new ones (or modify existing) using the (also free) Wings3D.
*-*-*-*-*-IDF-format-*-*-*-*-such-as-Solidworks-and-Pro-Engineer+Kicad-*-has-a-*-*-3D-component-modeler+ask-Vutrax-support-for-a-30-day-trial+Kilobuck-packages-*-*-*-*+Matthias-*+EZPC-*-Numberone-Systems+DXF (Repacement for the broken 72... link)
formatting link
?id=en:eagle3d:eagle3d+txt+ZIP+Windows.Installer
Another thread with someone trying to hawk his (inferior) attempt:
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