The version we’ll be giving away is called Cinema 4D CE - it's a fully functional but limited resolution version of Cinema 4D XL 6.
I wonder how low limited might be. I've used C4d V6. My friend owned it, and let me play around before I bought 3dsMax, when I was deciding which package I wanted. It is very good, and the interface is decent ( a bit Truespace-y, but more intuitive. )
Probably more use for stills and cutscenes than modelling characters, vehicles and environments for realtime purposes though.