With the rise of these new 3D printers, I have personally seen first-hand what they're capable of. It takes a lot of time to both draw the parts you want, and for the machine to fabricate, but I see great uses in model railroading.
They work like inkjet printers, melting plastic and shooting it out the nozzle into a pattern you program like a CNC machine. With sizes of 9x9x9 (inches) for home use designs, you could easily fabricate rough models and dremel it into a finished product. Its almost a hard nylon after it's been processed, but some machines support different material that can be painted.
Scratch build that building, engine, or car you always wanted.