I used a set of drawings published in a modeling magazine (can't remember which one). I scanned the drawings, imported it into AutoCAD, drew a line along the longest dimension line I could find from endpoint to endpoint, drew another line in space at the length shown on the dimension then aligned the drawing to the line using the endpoints of both lines with the scale to fit option. That way the drawing was oriented orthographically and scaled 1 ft. = 1 ft. in AutoCAD. Then it was a matter of tracing the drawing, creating polylines and regions, extruding, revolving, slicing and performing Boolean operations to create the model.
It took me around 10 months of my free time to do it, but that's because I was pretty unfamiliar with AutoCAD back then. It was the best training I could have asked for (that and memorizing the list of AutoCAD command aliases) and it's helped me become the resident expert at the various places I've worked since creating the drawing.
You're correct about AutoCAD being pretty worthless for rendering. That's where programs like Bryce and Accurender come in handy. Bryce can do animations and has excellent terrain, tree, and environment modeling abilities. Accurender is more of an architect's tool and can create accurate lighting environments based on manufacturer and model number of light fixtures to accurate placement of the sun based on date, time and latitude/longitude.
Here's a shadow study of proposed (and some existing) structures at Purgy north of Durango, Colorado created to determine where not to put parking lots and sidewalks (I'm sure you know the snow and ice won't melt in the shadows). The shadows shown are based on a 3,000,000+ point topo survey and 3D models I created of the existing and proposed structures (talk about a computer going slow calculating something - this rendering took over 24 hours on a 1GHz machine). The time and date is noon on the winter solstice. This was specified in a dialog box in Accurender (making it sooo simple!).
http://pages.sbcglobal.net/ryan.harris/3DBuildingShadowStudy.jpg
It's a good thing you've had a taste of board drafting. It helped me to know how to use AutoCAD as a draftsman. There are several guys I work with who only know drafting through using AutoCAD and have no idea of proper technique. Just because you can doesn't mean you should!
I'll see if I can render an image of the buildings in the image above from a better angle. This was the last 3D modeling project I did, though it won't be the last. I'm going to model my HO scale layout before I build it, so this was good practice for doing structures. Plus, I got paid for it, so you can't beat that.
Anyway, keep working on your model. Post more photos!