My usual workflow consist in steps :
First I model the basic shape of my asset, this can be done in Maya, Max, Blender ...
Then I import it on a sculpting program (Zbrush or Mudbox) although this step is optional, you can do a high poly in 3DSMax but sculpting is better for organic models. For woodworking 3DSMax will be perfect.
After that I create the low poly asset (the one in the game engine) by creating a retopo of my Sculpt. This can be done manually in 3DCoat or automatically in ZBrush or MeshLab.
Then you need to unwrap the low poly, I usualy do this in Maya or 3dCoat.
Then you need to bake the details from the high poly to the low poly. This is done in xNormal (which is free)
Finally you need to create the diffuse and specular in photoshop.
This is somewhat long
But if you don't need to put your mesh in a game engine you can stop right after the sculpt !
Hope it helps !