I just want some one to outline what this software can do?
Does it have parametric modelling? WIll it handle assemblies?
Is it decent bang for the buck, or is it lacking in some areas?
"It's only funny until some one get's hurt, and then it's just hilarious!!" Mike Patton - Faith No More Ricochet
Rhino is not parametric. It can handle assemblies, but probably not the way you are imagining. There is no constraint between parts (although the plug-in "Bongo" will add constraints and allow animation.)
It is a lot of bang for the buck, but remember that it is primarily a surfacing package. It does have solids, and in Version 4 (not released yet) there are a lot of solid editting tools.
As for where it is lacking, that's probably more in the 2D area, although V4 has made big strides forward in that area.
Why not find out for yourself? Download a fully functional demo and play with it.
Remember too that Rhino has 24/7 support on the Rhino newsgroup. You will get answers to your questions usually within a few minutes.
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)