Since this new Blender forum is hosted inside a Wings3D forum, I think it is necesary (and polite) to thank our host and at the same time put some info on how Wings and Blender can get along nicely. Much of this stuff you already knew it, but here it goes again.
A thread on another forum site addressing the same issue, with answers included:
more of the same, more updated:
About the Blender/Wings3D Import Export Suite!
Well, that should get you started. Remember that once you have your Wings3D model inside blender you can trick and twist it for finer tunning and use the ultra fast scanline render of Blender .... or, if you are aiming for the top of hill, re-export it to one of the many ray-tracing and global ilumination external renderes that Blender supports.
Out of box* Blender can export to Renderman (RIB), Povray, Yafray and Virtualight renderes. If you export your file (using plug-ins) to other more popular file formats (i.e. OBJ and LWO) then you can use practically every external render out there.
* Here 'out of the box' means by using the already available export/import scrips. Those scrips aren't included inside Blender, but are in the internet for you to download them or they come with the renderer sofware itselft.