Before I installed LTspice on my PC, I had to test everything I design (analog and digital) by using my digital storage oscilloscope.
It happens that LTspice gives me what my DSO does and a lot more (even the trace window looks as being of a scope), also for analog and digital circuits (separated or combined). It is for analyzing circuits from very simple ones to complex and professional ones (with different types of analysis, including the transient one in the real time).
About the component’s models, I don’t know yet a component that I may need in my designs and couldn’t find its model for LTspice.
For instance, the model file 2n2646.sub which is referred by keith1200rs could be used on LTspice.
And as I mentioned earlier, the Yahoo group of LTspice is a very good place to ask anything (when searching doesn’t help) about how to run the program and get the models. There is also a big archive (files section) in this group about tutorials, examples, libraries... etc.