Makehuman has been around for a couple of years.

When you open it, it pre-loads a base human shape, which you can then morph using a large set of morph presets to shape with.  There is also some joint bending capabilities in it.

 For the most part, once you get your human looking how you want, you can then export it as a .obj file for importing into other modeling apps for fine tuning and rendering.

It also has pre-defined material zones.

It makes for getting a quick start on modeling humanoid figures.  However, the one flaw I have found is there is a hole in the chest that will need to fill when you import the .obj into your other modeling app.

My opinion is that while not perfect, it is a nifty little addition to your modeling toolbox and can be a timesaver when creating original humanoids.