SMAK version 1.0 is a multi-purpose 3d modelling utility. It can:

* Bake hi-res models down to lo-res with diffuse, AO and normal maps

* Bake AO maps for standalone meshes

* Load and save multiple file formats

among other things. The advantage of SMAK is that it's very fast and easy to use, and lets you preview the model as the map generates. The price is $30 and you can get it from:

http://getsmak.net/