The Maya software renderer supports all of the various entity types found within Maya including particles, various geometry and paint effects (as a post render process) and fluid effects. It also has a robust API for the addition of customer-programmed effects.
The Maya software renderer features IPR (Interactive Photo Realistic rendering), a tool designed to allow you to make interactive adjustments to the final rendered image, and which greatly enhances rendering productivity.
Most importantly, the nature of Maya's integrated architecture allows complex interconnections, like procedural textures and ramps that govern particle emission and other unpredictable relationships that are capable of producing stunning visual effects.