First thing I did was bounding sphere, I'm sure you all know why this is helpful. First I started by putting all the triangles in their own spheres (collision against a sphere is much much faster than a triangle, in case you weren't aware). Then I recursively look for the pair of spheres that minimizes the distance between and combined radii, take those and put them in a bigger sphere. I do this until there is only one sphere at the top level (then I obviously have a tree of spheres). Not sure if this is the "way it's done", but it seems to work. In fact, on the scene from the previous entry it rendered 70% faster on my machine :).
I also added the ability to load MilkShape models. It's not as impressive as it sounds, since I had the code to load them laying around from my intro to graphics course, with a little hammering it plugged right in. Of course by the time I got all this working (yesterday), I didn't really have time to make a better scene than what I already had, so I stuck one of the models I had from before (a car my brother made me for my intro graphics final project) in the scene. It's not like it wasn't a little strange already:
right click for full size.