well adding textures you might want to look into UV editing. I linked to a tutorial in the resources thread just for that purpose.
moving vertices is pretty easy, simply convert the object to an editable mesh/poly, then on the right side panel, there's a button that looks like 3 dots in a triangle, click it, select a few vertices and move them.
to extrude a flat circle, go to the modifiers tab, add a extrude modifier, and change the settings to extrude it as far as you want.
there currently is no advanced 3dsm rig, but I'm working on that right now, just waiting for my instructor to help me with it. I have it semi-done, but there's something wrong with the IK (moving the control point for the leg backwards rotates the leg so it's facing backwards, instead of just having the leg point there without rotating.)
Here's a link to a rig that just has everything linked. nothing fancy, but you can rotate the joints to pose.
http://www.box.net/shared/xkl5rpdz0h (link provided by madness)