I've used Blender quite a bit for making 3D objects, animations, avatars, clothing etc. for virtual worlds like Second Life. It's quite a learning curve to get used to it. I would say it's one of the least intuitive programs I've ever encountered. Once you get the hang of it though, it's very powerful and on a par with the most expensive commercial 3D software used by movie producers etc.. You can even make full 3D movies in Blender (As noted above by Psi). You can import and export files in many other 3D formats, and for 3D printing I believe. I've never done that because I don't have a 3D printer.
Sketchup, at least when I last tried it some time ago, was relatively simple to learn to use but not even in the same league for capability. Especially when I tried to export models from it for use in virtual world simulators. That's not to say it isn't useful... it depends what you want to acheive. For a few quick and relatively easy 3D models, I would imagine it would be far quicker to get up to speed with Sketchup.