Hammer comes in two different flavors. The newest, 3.5beta has more functions like model viewing in-editor but is less stable than the most final release version, Hammer 3.4.
As for Hammer being crap, well, that's what all editors for Solid-World Geometry games are like. It's easy to learn with a bit of practice though, (This is coming from a RED Vet!), just be sure to read the tutorials here and you should have the basics down in no time
.