I doubt that there is a program that can open and edit the models in VF2, and if there is, you probably can't get it. They're probably edited in another format, then converted and stored in a format optimized for VF2's code to work with them. If you're familiar with 3D graphics programming (being familiar with Saturn programming probably wouldn't hurt either), you might be able to reverse engineer the format and write your own editor, or a program that converts the models to/from a standard format.
As for doing your own games, I wouldn't recommend Saturn as a platform to start out on. Then again, the hardest part of making a good game is actually figuring out what the game should be and what it should do, which is why I haven't made many games, and why guys like Shigeru Miyamoto and Yuji Naka are so amazing.
I generally think of Sakaguchi as being good at Final Fantasy, rather than being good at game design in general (not that there's anything wrong with this). As for Suzuki, I actually haven't played most of his work (that I can remember), so I don't really have much of an opinion of his work.
PrisimBan: I did a little poking around on Google, and there seems to be at least some third-party software that exists for manipulating Softimage models. The best I actually saw mention of is a program that converts Softimage models to VRML. Unfortunately, I don't know enough about VRML to know what programs are useful for editing it.
That thing is the model of a small robot, in SGL... that is the real output of SoftImage when talking about saturn. Finally, that is compiled and not in readable ASCII.. so you can't just decodify it that easily.
(That code is used in the small program i have been using to cotrol rotation, scaling and stuff of the robot on screen with sprites on the FG)