Thanks sk2k, I am already familiar with this tutorial.
Here is a test render (look the attachment).
The model was made in MoI, exported as OBJ (with Weld vrtices turned off and level of detail 9, quads and n-gons). I also tried to export it as LWO and import with anthony's import script. The end results in both cases look nearly the same.

The render looks good but in some places you could notice distinct polygons. This could be reduced with increasing the polycount, but that makes my machine running very slow.
Overall result is very good!

Out of topic: Which is faster? NURBS rendering or SDS rendering?

There is very interesting topic started in Blenderartists:
http://blenderartists.org/forum/showthread.php?t=106714&highlight=NURBS
And fun to read:)