Ok, I've been working with a nice guy named Tr3b to make some cool tools for Blender, and I've made some GLM importer/exporter scripts for those of you using Blender.
No, you can't make player models with it. Yet. But you should be able to make guns and lightsabers, etc with it, as well as convert to and from MD3 if you've got Tr3b's MD3 scripts.
<=- Scroll to the bottom for the latest (alpha) release.