any free 3d text making software?
 

As long as it can add texture to the letters, use my font directory, and export with alpha i`d be happy.

Probably best idea would be looking into blender.
http://www.blender.org/

A note,

Blenders texture tools are great, but its font management sucks. Probably pick the font in advance in a text editor and then load it via blender (the loading of fonts is clunky as well...).

Tom M.
LetterRip