Well I myself often encountered the problem of keeping the Polycount as low useing
Wings3d. So I post a little Guideline here (They may be usable in other programms than wings, but I personally dont really know) First I will explain the princip of it than I will show them in a short tutorial
1.
Create faces only where they are needed: When I was new to wings I used to create plenty of faces \"on purpose\" so that I could use them later. Not a good idea. In wings you can easily place faces, vertices and edges were you need them with first useing the cut-command (edge layer), which cuts an edge in parts of the same length (and creating vertices there of course), and then connecting the newly gained vertices with the connect-command (vertex layer)
2,
Smoothing without making unnecessary faces: Wings3d has a useful Smooth-function, it does anything automatically but it has a downside it can make the poly count of an object up to 5 times as high (or even higher) as it is, and sometimes it makes wierd things (unwanted wierd things). You can easily smooth edges per hand with the Bevel-command (the one in edge layer, not face layer!) This will add an face there were the edge was, making it look much smoother and just adding 1 to 5 Polys.
3.
Uniting unnecesarry faces by dissolving Edges: Even if you are using the cut-connecting trick and the smoothing trick there will be unnecesarry faces (for instance faces which are just a parted bigger face. You can reunite thes by dissolving the edges between them by either pressing del backspc while the edges are selected or by using the dissolve command. Warning: BE CAREFUL NOT TO DISSOLVE WRONG EDGES OR YOU MAY ENCOUNTER PROBLEMS WITH TESSELATION AND RENDERING
Now I will explain those tips from above at an example: a simple blade (without hilt and so, it\'s just for explaining the thigns above)
1. It\'s up to you, but I usually start off with an cube and selecting the four faces around.

2. Cut the faces in two parts (cut - > 2 | 2), then select pairwise those on one sid and connect them by either useing the connect command or \"c\" key and then deselect them and select those on the other side. Dont wonder if the edges wont show up, they are probably hidden under the grid, deactivate it to check
3. Now select the two new edges which lie on opposite sites of the cube then swap to vertex mode and scale them on the axis normal to them (x axis if the edges are paralell to the z axis and so)

4. Now we will make the blade a bit narrower in the middle (This makes it somehow more ellegant, IMO, I dont know if it has any reason, I am no weapon specialist) select the four edges in the middle of the blade and cut them into three parts (3 | 3) and then connect them (Either connect them pairwise or dissolve the edges on the front and back after you connect them)
5. now sellect the vertices that we made the last step (by parting into 3 Parts) and scale them on the axis which lies normal on the top of the blade (usually Y) (make it narrower) (Look at picture 6 for help)
6. Select the face in front and exturde it normally, scale it on the axis that is paralell to it (make it smaller there) then connect the two vertices on the end of the edge.

7. Cut this new edge into 5 and connect the new vertices with the matching one on the top and bottom.

8. Move the 3 inner edges a bit out and then the innermost again a bit out.

9. Last but not least select the edges that are on the top and the bottom and use the Bevel command (in edged layer not face!) and eventually resize the whole thing a bit.

And here we have an quite suitable blade with an Poly count of 91, if you think of contributing your work to PS you have to tesselate it triangular then it possibly will have 192, but it\'s still low.
