VizUp Streamline Ultimate is designed for optimization of complex 3D models (CAD/CAE systems) for real-time visualization. Supports Wavefront .OBJ, VRML 2.0/97 and StereoLitho (.STL) file formats.
I've tried out several commercial polygon reduction tools in the past, and this is easily as good or better than them. It's extremely simple to use and the polygon reduction is great. Very useful for simplifying models made with nurbs or metaballs. It reduced a high-poly vrml model from 617kb to 115kb with practically no difference in appearance.
I had to check the wireframe view to be sure of what I was seeing lol.
I found using VizUp very easy and very intuitive. Good visual feedback of how far you can push the polygon reduction, and a sophisticated algorithm combine to make polygon reduction a breeze. It will be even better when you can 'selectively' reduce different parts of your model. Highly recommended.