Quote: "You can use any character model even stock will do so resources are covered."
That is correct. As long as the character is "rigged" to the biped and can move, you can use it.
Quote: "Ummm 3rd person scripting requires a lot of scripting....goes without saying, so it is possible then?"
Depends on what and how you want to achieve it. One script assigned to the character model, one script assigned to the trigger to "switch" to 3rd person view, and one small two-line script to use as "camera view" to control where the camera view is to be when controlling the 3rd person.
It is not a lot of scripting. 250 lines and 15 lines for the two scripts, plus the trigger script. It all depends on what you know the scripting language can do and what you want it to look like. If we can make it in v1.17, then it is definitely achievable in v1.20 considering the commands like "plrcam" and "entitycam". All it takes is a little willingness to read, learn, and attempt.
There's no problem that can't be solved without applying a little scripting.