I recently had the pleasure of a meetup with Matt Morris, Product development director, Overwatch Systems, LTD. at geoInt 2012 in Orlando, FL. Matt discusses LiDAR Analyst 5.1 for high end visualization of LiDAR data in a 3D environment. Recall, LIDAR Analyst can ingest data in various formats including LAS, ASCII text, Digital Elevation Models (DEM) or raster, and 3D point shape files.
See more about LiDAR analyst HERE