Exchange blender models

What is the best way to exchange a blender object. Eg, I have a .blend with 5 models, all with vertex groups, modifiers etc, and someone else has a .blend with 5 different models with vertex groups, modifiers etc. How can we import each other’s models into the same .blend file? This seems like it should be totally easy, but I can’t for the life of me figure it out.

Is t here a way to merge .blends, import a scene or a blender model format that I have just somehow missed?

Congratulation on asking what must be the most common question asked on these forums.
Use Shift+F1 to append
http://wiki.blender.org/index.php/Doc:2.5/Manual/Data_System/Linked_Libraries
http://www.blendercookie.com/2010/07/12/tip-appending-and-linking/

thank goodness. I knew it had to be simple. All my searches for merge yielded branch/svn type things and all my searches for import yielded I/O add on type things. Solid. Thanks so much.

congratulations on using your mod power to edit your post by changing it from something simply informative to something really sarcastic but without the consequences of having your post marked as edited. I understand your frustration with people who don’t put in effort to try and find answers on their own. I’ve been using blender for about 8 months, had zero programming knowledge and have managed to accomplish a lot w/o asking too many obvious questions. I usually bust my tail searching for things and I thought I had, now, a google search seems to throw all the answers in my face. Wouldn’t posting a simple link have wasted less of your time than posting, then going back and editing it to be something mean?

congratulations on using your mod power to edit your post by changing it from something simply informative to something really sarcastic but without the consequences of having your post marked as edited.

If I edit my posts, its the same as for all other users, it marks them as edited, there isn’t a way that I know around this.
I suggest you read the wiki, this goes through how blender uses datablocks (no programming knowledge required), Understand this and you will understand how you share info between different objects/scenes/blends (meshes, materials etc)