Hi, I think LasTools would be good for you. Some functions are only up to 1.5 million pts, but it's not problem, because here are functions allow you split and merge data files. All can be done automatically, because functions and options of LasTools are aceesible from command line.
Mengmeng, just calm down! LasTools under ArcGIS is free:-) Here you have link http://rapidlasso.com/lastools/ . Also open source software - SAGA & QGIS have some LIDAR functions.
there was a LinkedIn discussion on "A comparison of free point cloud viewers ". You can find the final document at http://www.geonext.nl/wp-content/uploads/2014/05/Point-Cloud-Viewers.pdf . Most of the software are just viewers but some of them allow some processing. Nevertheless, viewing the point cloud is the first step to understand what is going on and start processing.
You can try BCAL LiDAR Tools. BCAL LiDAR Tools is a freeware developed at Department of Geosciences, Boise Center Aerospace Laboratory (BCAL). These tools can be used for processing, analyzing and visualizing LiDAR data. They are written in IDL programming language and are intended to be used as add-on in the ENVI remote sensing software package.
The tools can currently process LiDAR data up to LAS 1.2 format. BLT can be downloaded from the link http://bcal.geology.isu.edu/tools-2/envi-tools. BLT are
widely used by a variety of federal and state agencies for research and teaching throughout the world.
BLT is equipped with all the essential modules for following a general workflow for LiDAR data processing and product generation. The workflow involves the steps starting from importing the data to visualizing it and to classifying it for finally generating a product with acceptable international standards. The successful implementation of this freeware for various projects can be followed on http://code.google.com/p/bcal-lidar-tools/wiki/ToolsUsage.
on the free/open source side, QGIS is progressively improving the interface with FUSION (works with las/laz). Just try to take a look, test it and (if you're interested) report bugs / suggestions to the developers.