I just released view3dscene version 2.0.0. view3dscene is a viewer for VRML and 3DS files, using the same VRML engine as all my games (like "The Castle"). Supports viewing the scene in the "Examine" mode and walking in the virtual world with features such as collision detection and gravity. Rendering is done using OpenGL. Built-in ray-tracer allows to generate images with more effects (like shadows and mirrors) and conforming precisely to VRML 97 lighting specification. The program can also convert files from 3DS format to VRML 1.0 and pretty-print VRML files.

Major new feature in version 2.0.0 is VRML 2.0 (aka VRML 97) support. It's by no means complete yet, but it's definitely usable already - see VRML implementation status for details and results of various test suites.